Press Conference by SUZUKI Shunichi, Minister of Finance and Minister of State for Financial Services

(Excerpt)

(Monday, September 26, 2022, 11:02 am to 11:10 am)

[Questions and answers:]

Q.

I would like to ask about NISA. On September 22, Prime Minister KISHIDA said in a speech at the New York Stock Exchange that it is essential to set up NISA, which is currently temporary measure, as a permanent tax exemption framework, and I believe that both the FSA and the securities industry are asking that the program be made permanent. What are your thoughts at this point on making the NISA scheme permanent?

A.

Prime Minister KISHIDA did indeed make a speech in New York on September 22 (local time). It is my understanding he stated in that speech that it is essential to make NISA permanent in order to Double Asset-Based Income and enable long-term asset building for retirement.
  The "Basic Policy 2022" approved by the Cabinet last June also called for fully mobilizing measures, among these being radically upgrading NISA, to Double Asset-Based Income through investment and for boldly and thoroughly promoting a shift from savings to investment.
In any case, I am aware that the ruling coalition’s Tax Commission and other organizations will be discussing the way of fundamental enhancement of NISA, including making it permanent. The government intends to take appropriate action in light of these discussions.