Japan cabinet approves move to cut consumption tax on food to 1%

Bill to be submitted to Diet while funding to cover shortfall remains unclear Japan's Prime Minister Sanae Takaichi at the prime minister's office in Tokyo on Aug. 5. (Photo by Ken Suzuki) TOKYO — Japanese Prime Minister Sanae Takaichi's cabinet on Wednesday agreed on a bill to lower the nation's consumption tax rate on food to 1% from the current 8% for two years starting in April 2027.

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