Japanese Prime Minister Sanae Takaichi: Suspend the sales tax on food and beverages for two years

SnapshotLaborer · 2026-02-20T05:45:49+00:00

Sanae Takashi announced in her parliamentary policy speech that the sales tax on food and beverages will be suspended for two years, and a mid-term tax reduction plan will be developed to promote fiscal policy reform, with a focus on investing in artificial intelligence, semiconductors, and shipbuilding to boost Japan's growth.

SnapshotLaborer

2026-02-20 05:45:49

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Sanae Takashi stated in her policy speech to the National Diet on Friday that she will suspend the sales tax on food and beverages for two years without relying on deficit-financed bonds. A mid-term plan to reduce the sales tax will be drafted before early summer, and a tax reform bill will be promptly submitted. Sanae Takashi reaffirmed her commitment to implementing a “responsible and proactive fiscal policy” by increasing investments in artificial intelligence, semiconductors, shipbuilding, and other sectors to boost Japan’s potential growth rate.

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