Tokyo, Jan. 17 (Bloomberg) -- Japanese Prime Minister Junichiro Koizumi said he won't raise the country's 5 percent consumption tax. ``I don't mind there being debate about the consumption tax, but I won't raise it during my tenure,'' Koizumi said at a meeting of the government's advisory panel on taxes. ``There are many areas where we can cut government spending.''
Koizumi added that a consumption tax increase would make the government too ``loose in capping spending.'' Yasuo Fukuda, Japan's chief Cabinet secretary, earlier this week said debate over raising the consumption tax would probably come up during tax discussions in the fiscal year that starts April next year. //www.quote.bloomberg.com