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Politics

Japan considers corporate tax hike to lift defense budget: panel

Proposals include having counterattack capability within five years

Prime Minister Fumio Kishida has called for a substantial increase in defense spending as part of a five-year plan to strengthen Japan's military capabilities.

TOKYO -- Japan should consider financing a future defense spending increase through a broad range of tax increases, including in corporate tax, a government's panel of experts suggested in a draft of proposal seen by Nikkei.

Prime Minister Fumio Kishida has called for a substantial increase in defense spending, but there had been questions over how to pay for it.

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