Japan avoids tax hikes to fund tech boost

The Japanese government has confirmed that it will not raise taxes to finance its ambitious 10 trillion-yen ($65 billion) plan aimed at bolstering the domestic semiconductor and artificial intelligence industries, the Industry Minister said.

Prime Minister Shigeru Ishiba announced the aid to boost the technology sector without resorting to deficit-covering bonds.

Attribution: Reuters

Subediting: M. S. Salama