Japan LDP tax chief says raising corporate tax is option to fund defence buildup -Nikkei

TOKYO : The head of tax policy at Japan’s ruling Liberal Democratic Party (LDP) said on Friday that raising corporate taxes was an option to fund the country’s defence build-up, the Nikkei newspaper said.

“A somewhat large tax should be considered if there are expectations for a sizeable tax revenue,” Yoichi Miyazawa, the LDP’s tax chief, told the Nikkei in an interview.

The idea of issuing more government bonds to fund defence spending is “utterly irresponsible,” Nikkei also quoted Miyazawa as saying.