At a news conference held on Friday, Japanese Finance Minister Masajuro Shiokawa said that although he had no current plans to raise taxes in the next financial year from April onwards, if he did decide to introduce a tax increase, it would be on tobacco and he was certain it would not draw a great amount of criticism from the general public.
'There is a movement toward discouraging smoking so I don't think the public will be opposed to a tax hike on cigarettes; I think they will accept it,' he said.
It is believed that the government would prefer to raise the tax on tobacco to generate more revenue rather than issuing more debt.
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