Japan should cut corp tax to be competitive: Economics minister

TOKYO (REUTERS) - Japanese Economics Minister Akira Amari said on Friday that Japan should cut its corporate taxes so as not be at disadvantage to other economic powers.

He also said financial markets were gradually digesting the latest developments regarding the US Federal Reserve's principles for an exit from its support programme. He was speaking at a news conference that followed a Cabinet meeting.

On Thursday, Prime Minister Shinzo Abe's ruling party vowed to cut Japan's corporate tax rate to revitalise the world's third-biggest economy, as it prepares for an upper house poll in July that it hopes will cement its grip on power.