Three business powers call for higher tax

Leaders of the Big Three business organizations on January 6 at a news conference in a Tokyo hotel emphasized the need to increase the consumption tax rate.

The Japan Business Federation, Japan Chamber of Commerce and Industry, and the Association of Corporate Executives propose raising the tax rate ostensibly to secure resources for social welfare in an aging society.

The Japan Business Federation suggests that the present 5-percent consumption tax rate be eventually raised to 16 percent.

With reduction in social welfare benefits in mind, the business circles want to ease their share of payments for social welfare by covering the government's share with the tax increase, Akahata editorialized. (end)