Japan PM aims to cut consumption tax early, depending on cross-party debate

TOKYO - Prime Minister Sanae Takaichi said Wednesday she aims to realize a two-year consumption tax suspension on food and beverage items as early as possible after cross-party discussions, following her Liberal Democratic Party's decisive victory in a general election.

Speaking at a press conference after her reelection as prime minister in parliament earlier in the day, Takaichi did not say exactly when the envisioned tax reduction will be implemented, as ruling and opposition members are expected to discuss details toward this summer.