Japan finance minister: will aim to avoid new bond issue to fund stimulus

Reuters

TOKYO (Reuters) - Japanese Finance Minister Taro Aso said on Tuesday that he aims to avoid issuing fresh government debt to finance a 5 trillion yen (31.37 billion pounds) economic package designed to offset the blow from a planned sales tax hike next April.

Aso said he is hoping that the package, to be compiled in the first half of December, will be financed with resources such as extra tax revenue.

He also said the government should consider lowering the effective corporate tax rate in the medium to long term to maintain Japan's international competitiveness and attract foreign investment.

(Reporting by Tetsushi Kajimoto; Editing by Shinichi Saoshiro)

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