Ally of Japan’s Premier Calls for Capital Gains Tax Hike to 25%
- Yamamoto says more than 30 trillion yen in spending needed
- Premier Kishida set to make first policy speech in parliament
Kozo Yamamoto
Photographer: Yuriko Nakao/Bloomberg
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An ally of new Japanese Prime Minister Fumio Kishida said capital gains tax could be raised to 25% from the current 20% without affecting stock prices, just as the premier prepares to make his first policy speech in parliament.
Kozo Yamamoto, a veteran member of Kishida’s faction of the ruling Liberal Democratic Party, also told Bloomberg more than 30 trillion yen ($269 billion) in fiscal spending was needed to help the economy recover from the effects of the coronavirus pandemic.