April 13, 2018 / 1:23 AM / 3 months ago

Japan government to set up panel on steps to ease pain from sales tax hike

TOKYO (Reuters) - Japan’s government will set up a panel to discuss ways to mitigate the impact next year’s scheduled sales tax would have on the economy, Chief Cabinet Secretary Yoshihide Suga said on Friday.

FILE PHOTO: Japan's Chief Cabinet Secretary Yoshihide Suga attends a news conference at Prime Minister Shinzo Abe's official residence in Tokyo, Japan May 29, 2017. REUTERS/Toru Hanai/File Photo

Prime Minister Shinzo Abe has said the government could consider fiscal spending and other measures to ensure the tax hike does not hurt the economy.

A previous increase in the tax rate to 8 percent from 5 percent in 2014 pushed the economy into recession.

Reporting by Leika Kihara; Editing by Chang-Ran Kim

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