Japan's Abe: to use extra tax revenue, not new debt, for stimulus spending

TOKYO Wed Oct 23, 2013 9:46pm EDT

Japan's Prime Minister Shinzo Abe attends the opening event of the Tokyo International Film Festival in Tokyo October 17, 2013. REUTERS/Toru Hanai

Japan's Prime Minister Shinzo Abe attends the opening event of the Tokyo International Film Festival in Tokyo October 17, 2013.

Credit: Reuters/Toru Hanai

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TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe said on Thursday he plans to use higher-than-expected tax revenue to fund economic stimulus spending rather than relying on issuing new debt.

Abe was speaking in the upper house budget committee.

The government will announce in early December details of a 5 trillion yen ($51 billion) economic stimulus package meant to offset the drag from an increase in the sales tax next April. ($1 = 97.2900 Japanese yen)

(Reporting by Stanley White; Editing by Chang-Ran Kim)

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Comments (1)
A one year tax cut for wage earners would have more positive
effect than a stimulus package.

Oct 24, 2013 11:49pm EDT  --  Report as abuse
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