Japan's Abe plans to use extra tax revenue, not new debt, for stimulus spending

Reuters
Japan's PM Abe delivers a speech at a seminar in Tokyo
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Japan's Prime Minister Shinzo Abe (C) delivers a speech at a seminar in Tokyo June 5, 2013. REUTERS/Toru Hanai

TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe said on Thursday he plans to use higher-than-expected tax revenue to fund economic stimulus spending rather than relying on issuing new debt.

Abe was speaking in the upper house budget committee.

The government will announce in early December details of a 5 trillion yen (31 billion pounds) economic stimulus package meant to offset the drag from an increase in the sales tax next April. ($1 = 97.2900 Japanese yen)

(Reporting by Stanley White; Editing by Chang-Ran Kim)

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