The Japanese Cabinet endorsed a bill Friday that paves the way for raising the country's 5 percent consumption tax. A clause in the bill leaves the timing of the tax hike subject to further review, Kyodo News reported. Prime Minister Taro Aso had previously insisted the sales tax should be raised by the 2011 fiscal year, but opposition to the tax hike by members of his own Liberal Democratic Party led to a compromise, the news service said. Aso directed Akira Amari, in charge of administrative reform, to study reforms to streamline the government to reduce wasteful spending.

Text of report in English by Japan's largest news agency Kyodo Tokyo, Sept.

Taro Aso was elected Japan's new prime minister Wednesday by the country's parliament, replacing Yasuo Fukuda, and he immediately announced his Cabinet. Aso, 68, president of the Liberal Democratic Party and a former Japanese foreign minister, won enough votes in the Diet to gain the premiership.

Text of report in English by Japan's largest news agency Kyodo Tokyo, Sept.

Tokyo, Sept. 2 (Jiji Press)--The ruling Liberal Democratic Party decided Tuesday to hold an election on Sept. 22 to choose its next president to succeed Yasuo Fukuda, who on Monday abruptly announced his resignation as its president and Japan's prime minister.