TOKYO (Reuters) – Japan must secure permanent financing sources to increase defense spending by reviewing revenue and expenditure, and further reform spending in coming years, Finance Minister Shunichi Suzuki said on Tuesday.
“If there’s a shortage of financing sources, we will need to consider multiple ways including taxation following deliberations at an expert panel and ruling bloc,” Suzuki told reporters.
Suzuki was speaking shortly before an expert panel for Japan’s defense buildup is set to submit its proposals to Prime Minister Fumio Kishida.
(Reporting by Tetsushi Kajimoto; Editing by Kim Coghill)