Takaichi's plan to cut sales tax on food threatens Japan's future

Japanese Prime Minister Sanae Takaichi on July 30 announces plans to temporarily lower the nation's consumption tax on food. (Photo by Ken Suzuki)An announcement on Thursday showed that the government of Japanese Prime Minister Sanae Takaichi seems incapable of managing state affairs with a broad sense of perspective. The plan to lower the consumption tax on food will only erode fiscal discipline, reduce funding for the nation's social security system and increase reliance on deficit-covering government bonds.