Beijing Times March 17 news, Japanese Minister of Economy Yasushi Nishimura said on Tuesday that Japan would consider a number of measures, including a reduction in sales tax in order to deal with the impact of the new crown virus epidemic on its economy. This is less than six months after Japan raised its sales on October 1 last year.Last week, several members of the Japanese ruling party proposed that the government temporarily abolish a 10% sales tax and prepare a supplementary budget of 30 trillion yen (about 282 billion US dollars) to deal with the economic impact of the epidemic.Although extreme, the proposals underscore the seriousness of the problems facing the world's third-largest economy and have not been completely rejected by government officials such as Nishimura Nishimura.
Nishimura said that while sales tax revenue is important to pay for social welfare costs, the government must take all measures available to support the economy.
He was asked by reporters after a meeting of the Japanese Cabinet about the proposals of these lawmakers: "We will look for a wide range of options in taxation, fiscal policy, and deregulation" to deal with the damage caused by the outbreak.
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