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Suga Backpedals On Sales Tax Comments

JAPAN

BBG runs comments from Japanese Chief Cabinet Secretary Suga, the leading contender to replace PM Abe. In reference to his earlier comment that Japan will need to hike sales tax at some point, Suga says that his remarks concerned the future and any hike to the consumption tax will not be needed for the next 10 years.

  • Separately, Japanese Foreign Minister Motegi says he will speak on a video call with UK Trade Secretary Truss, as both sides aim to achieve a broad agreement on trade matters today.
  • Finance Minister Aso declines to comment on any plans to dissolve the diet, while noting that population is Japan's biggest mid- to long-term problem.
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