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Reuters
Reuters
Business

Japan PM floats possibility of snap election before defence budget tax hike

Fumio Kishida Japan
Japan's Prime Minister Fumio Kishida attends a press conference in Tokyo, Japan, on December 16, 2022, addressing some topics such as National Security Strategy, political and social issues facing Japan in today's World crisis. David Mareuil/Pool via REUTERS

Japanese Prime Minister Fumio Kishida on Tuesday floated the possibility of calling a snap election before a tax increase aimed at funding the country's defence budget comes into place "sometime after 2024".

The government is set to implement tax increases to cover a shortfall of 1 trillion yen ($7.47 billion) in the defence budget, despite stiff opposition from within the ruling coalition amid Kishida's sagging popularity.

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