Japan won't raise taxes to fund US$65 billion chips aid: Industry minister

Quick Summary:

TOKYO: Japan's government is not planning any tax hike to finance its 10 trillion yen (US$65 billion) plan to support domestic semiconductor and artificial intelligence projects, industry minister Yoji Muto said on Tuesday (Nov 12).

Muto's remarks came a day after Prime Minister Shigeru Ishiba unveiled the aid to boost the country's technology sector but said the government will not issue deficit-covering bonds to fund the plan.

FILE PHOTO: Japan's Minister of Economy, Trade and Industry (METI) Yoji Muto arrives at Prime Minister Shigeru Ishiba's official residence in Tokyo, Japan October 1, 2024.

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Category: EconomyBusiness

Markets: SingaporeJapan

Topics: Muto Prime Japan Mediacorp Plan Industry Minister 2024 Yoji Government Shigeru

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-12 @ 10:18:00 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 150 words

Reading Time: 1 minutes read

Sentences: 6 lines

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News ID: 23542533

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