Japan PM Abe says corporate tax to be cut more than planned next financial year

Japan's Prime Minister Shinzo Abe speaking at the Asean summit in Kuala Lumpur on Nov 22.
Japan's Prime Minister Shinzo Abe speaking at the Asean summit in Kuala Lumpur on Nov 22.PHOTO: REUTERS

TOKYO (REUTERS) - Japanese Prime Minister Shinzo Abe said on Thursday (Nov 26) that corporate taxes would be cut more than planned next fiscal year, paving the way for early cuts below 30 per cent.

He added that capital spending and wage hikes held the key to generating a virtuous economic cycle.