LDP Panel Draws Up Measures to Ease Tax Hike Impacts

November 21, 2018

Tokyo--A panel of Japan's ruling Liberal Democratic Party drew up on Tuesday a set of measures to cushion the impacts of the planned consumption tax hike next year, including a shopping point plan for holders of My Number social security and taxation identification cards.

The package, compiled by the party's growth promotion headquarters, will be submitted to the government later this week.

It calls on the government to set up a point program that will work with local governments' existing point systems for My Number card holders. The plan is also aimed at promoting the issuance of the ID cards.

The package also urges the government to limit the recipients of planned gift vouchers to low-income households and child-rearing families.

The LDP panel clarified in the package that the size and timing of the measures to ease the impacts of the consumption tax hike from the current 8 pct to 10 pct in October 2019 should be balanced so that fiscal discipline is maintained.

The headquarters was set up under the initiative of LDP policy chief Fumio Kishida in order to strengthen the party's policy planning functions. Jiji Press