The policy chiefs of both the ruling Liberal Democratic Party (LDP) and the main opposition Constitutional Democratic Party of Japan (CDP) expressed caution over a possible consumption tax cut during a television program on Sunday.
While calls for a consumption tax cut as a measure to deal with rising prices are growing in both the ruling and opposition camps, the LDP and CDP policy chiefs stressed the need to consider a tax cut along with ways to finance it.
"The consumption tax is an important revenue source that largely covers social security costs," said the LDP's Itsunori Onodera. "We need to discuss reform of both the tax and social security systems in the Diet."
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