Japan gov't panel recommends whole nation pay for higher military spending
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FRIDAY, FEBRUARY 03, 2023
Japan gov't panel recommends whole nation pay for higher military spending

World+Biz

Reuters
22 November, 2022, 09:55 am
Last modified: 22 November, 2022, 09:57 am

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Japan gov't panel recommends whole nation pay for higher military spending

Reuters
22 November, 2022, 09:55 am
Last modified: 22 November, 2022, 09:57 am
Japan's Prime Minister Fumio Kishida speaks during a news conference at the prime minister's official residence on 25 February, 2022, Tokyo, Japan. PHOTO: Rodrigo Reyes Marin/Pool via REUTERS
Japan's Prime Minister Fumio Kishida speaks during a news conference at the prime minister's official residence on 25 February, 2022, Tokyo, Japan. PHOTO: Rodrigo Reyes Marin/Pool via REUTERS

A Japanese panel of experts advising Prime Minister Fumio Kishida on a planned defence hike has recommended the whole nation bear the financial burden and warned against relying on government bonds to pay for increases.

The recommendations in a document released on Tuesday came as Kishida's administration mulls how to pay for his pledge to "substantially" increase defence spending to counter what Tokyo sees as a growing security threat from neighbouring China.

If his government raises taxes to do so, he will have to decide whether increase rates on businesses or ask individual citizens to pay through higher income taxes or other means.

Global Economy

Japan / Military / Budget / Expenses

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