CCTV.com - CNTV English - CCTV News

Japanese PM: Tax reform necessary

06-22-2010 09:22 BJT

Watch Video

Play Video

Japanese Prime Minister Naoto Kan has stressed that tax reform is vital, to repair the country's tattered finances.

At a news conference on Monday, he said full-fledged debate on a sales tax rise would begin after the July 11th election. Kan, who has made fiscal reform a top priority since taking office this month, stunned listeners last week when he said doubling the five percent sales tax was an option to stave off a Greek-style crisis. Europe's debt woes have fanned concern about Japanese public debt already twice the size of the economy. Kan has made fixing state finances a top priority.

Naoto Kan, Japanese PM said "I believe that tax reform is necessary, in order to execute a definite growth strategy."

"What I am emphasizing is that we must create a strong economy, which also has strong finances, as well as social security. I am not saying that fiscal reform alone is enough. For example, raising the consumption tax to pay down debt would cause deflation."

Editor:Xiong Qu |Source: CCTV.com

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program