Abe vows full efforts to tackle tax hike impact

October 1, 2019

Tokyo--Japanese Prime Minister Shinzo Abe said Tuesday that his government is ready to take all possible measures to tackle any negative impact of the day's consumption tax hike to 10 pct from 8 pct.

"We're closely watching its effects," Abe told reporters at the prime minister's office. "We'll respond fully."

Japan also introduced a program to make preschool education and care services free of charge for many families.

"We made the first step in reform to create a pangenerational social security system that everyone, from children to the elderly, can feel secure about," Abe said.

Finance Minister Taro Aso told a press conference that the tax hike is "extremely significant" in stably financing social security services. Jiji Press