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Japan's ruling bloc approves corporate tax cut to encourage wage hikes

Mr Abe's ruling bloc also approved a raft of tax hikes for coming years to pay for a bulging welfare bill, at the risk of putting a damper on private consumption.


JAPAN'S ruling bloc approved a plan on Thursday to slash the corporate tax rate to around 20 per cent from 30 per cent - but only for companies that raise wages aggressively and boost domestic capital spending.

The carrot-and-stick approach is Prime Minister Shinzo Abe's most...

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