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. Last Updated: 07/27/2016

Japan Tax-Cut Debate

TOKYO -- The Japanese government indicated Thursday that key tax cuts to boost the economy would not be debated in parliament until the new year, disappointing the Tokyo stock market that had hoped for an earlier debate.

Japan's top government spokesman Hiromu Nonaka said while he would prefer debate on planned tax cuts to begin in a special parliamentary session likely to be held at the end of this month, he did not think it was practicable.

This means that the special parliamentary session will debate only a 10 trillion yen ($85.4 billion) supplementary budget for this business year which ends in March.