Japan won’t raise taxes to fund $65 billion chips aid, industry minister says

11:42 pm Monday, November 11th, 2024

TOKYO (Reuters) – Japan’s government is not planning any tax hike to finance its 10 trillion yen ($65 billion) plan to support domestic semiconductor and artificial intelligence projects, industry minister Yoji Muto said on Tuesday.

Muto’s remarks came a day after Prime Minister Shigeru Ishiba unveiled the aid to boost the country’s technology sector but said the government will not issue deficit-covering bonds to fund the plan.

($1 = 153.9600 yen)

(Reporting by Kantaro Komiya; Editing by Christian Schmollinger)

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