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Politics

Spousal tax reform seen lifting Japanese consumption

Proposed scheme could add 838bn yen in disposable income

TOKYO -- Ruling coalition tax reform plans will boost private consumption in Japan by encouraging housewives and other secondary earners to pursue higher take-home pay.

Junichi Makino, chief economist at SMBC Nikko Securities, estimates that consumer spending could increase by 420 billion yen ($3.68 billion) under the spousal tax reform. The plan was put forward Thursday by the Liberal Democratic Party and its coalition partner Komeito.

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