Japan PM wary of pre-election inflation-fighting consumption tax cut

Prime Minister Shigeru Ishiba expressed caution about a consumption tax cut as an inflation relief step on Sunday, suggesting such a reduction in tax revenue would cause a serious drain on state coffers.Senior officials of his administration and ruling Liberal Democratic Party have been dismissive of a cut in the consumption tax -- at 8 percent for food and beverages and 10 percent for other items -- as the coalition government looks to put together an economic package ahead of the House of Councillors election this summer."We need thorough discussions on whether there are other ways to sup…READ FULL ARTICLE