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EDITORIAL / Consumption tax hike only solution to situation
Prime Minister Taro Aso has instructed the ruling coalition parties to formulate a basic policy for overhauling the tax system over the medium term, with an eye to raising the consumption tax rate in the future.
An enormous amount of money is needed to cover the ever-growing social security expenses due to the graying society and declining birthrate. It is certain that only the consumption tax can provide such funding.
Mindful of the anticipated House of Representatives election, both the ruling bloc and the opposition parties have spelled out various policies. However, …