DPFP Chief Urges LDP to Accept Income Boost Proposals

   Tokyo, Oct. 31 (Jiji Press)--The opposition Democratic Party for the People will not cooperate with the Liberal Democratic Party-led administration if its proposals to increase people's after-tax income are not realized, DPFP chief Yuichiro Tamaki said Thursday.
   Speaking to reporters, Tamaki warned that "no budget bill or legislation will pass" the Diet if none of its proposals are adopted.
   In its campaign for Sunday's general election, the DPFP called for raising the income threshold that separates income tax payers and nonpayers from the current 1.03 million yen to 1.78 million yen and lifting the so-called trigger clause to enable a temporary gasoline tax cut.
   In the election, the DPFP quadrupled its share in the House of Representatives to 28 seats, while the ruling LDP-Komeito coalition lost its Lower House majority. The LDP is now aiming to secure DPFP support for a fiscal 2024 supplementary budget and a fiscal 2025 initial budget by including some of the DPFP's proposals in a comprehensive economic policy package that the government plans to draw up in November.
   Referring to the DPFP proposal to revise the income tax threshold, Chief Cabinet Secretary Yoshimasa Hayashi said at a press conference on Thursday that the proposed measure is estimated to reduce tax revenues by around 7 trillion to 8 trillion yen.

(2024/10/31-21:20)

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