[PERSON]
Governor Hiroshi Hanakaku
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Situations
Japan food tax cut approved, financing debated
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Latest: Japan approves two‑year 1% food tax cut, sparking fiscal concerns
Japan’s cabinet gave final approval on 5 August 2026 to a two‑year reduction of the consumption tax on food, cutting the rate from 8 % to 1 % beginning in April 2027. The plan also adds a 1 % cash rebate, effectively nul