The tax reform council of Japan's ruling Liberal Democratic Party has agreed to reduce income taxes to compensate households suffering from soaring prices and support a change in the deflationary mindset that has pervaded the country. past decades The move is also intended to encourage a healthy growth cycle driven by private sector demand, with tax policymakers increasing tax breaks for businesses planning to increase wages. The draft of tax breaks under the framework of tax reform in fiscal year 2024 will be finalized on Thursday