The Japanese government's possible plan to raise taxes to finance the country's growing defense budget is facing opposition within the main ruling Liberal Democratic Party.

Prime Minister Kishida Fumio aims to raise annual defense spending to 2 percent of the country's gross domestic product in the fiscal year starting in April 2027.

Kishida said the increase is expected to result in a fiscal deficit of more than 1 trillion yen, or about 7.3 billion dollars every year. He instructed the ruling parties to consider tax hikes.

The party's Policy Research Council held a meeting open to all LDP lawmakers to discuss raising taxes on Friday. About 80 lawmakers attended.

Policy chief Hagiuda Koichi said he wants them to engage in frank discussions.

Some lawmakers showed understanding toward the tax hikes. They said an increase in defense spending should be accompanied by reliable revenue sources.

Others said they should not rush to make decisions by yearend and need to spend more time discussing the issue. They also said the issuance of government bonds should be added to funding options.

A senior council member said more than 50 lawmakers spoke at the meeting. About 40 of them objected to tax hikes or expressed caution.