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$18-bn spending plan launched for Japan

Abe said he would make use of revenue from a planned consumption-tax hike set to take effect in October 2019

Bloomberg 

Japanese Prime Minister Shinzo Abe announced on Monday that he would seek to implement a 2 trillion yen ($18 billion) spending package to expand access to education and cut waiting times at child-care centres.  He made the comments shortly before his coalition partner said an election would be held, likely on October 22. Abe said he would make use of revenue from a planned consumption-tax hike set to take effect in October 2019. Revenue from increasing the sales levy had previously been marked mostly to replace deficit spending on the social safety net. He said that he ...

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First Published: Tue, September 26 2017. 02:01 IST
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