Japan ruling party lawmaker: Sales tax should be cut
Reuters
Published Apr 05, 2016 07:44PM ET
Japan ruling party lawmaker: Sales tax should be cut
TOKYO (Reuters) - Data for Japan's consumer spending shows conditions similar to those after the Lehman crisis, requiring a reduction in the national sales tax, a ruling party lawmaker and one of the architects of Prime Minister Shinzo Abe's economic policy strategy said.
"Japan should cut the sales tax rather than raise it," Liberal Democratic Party lawmaker Kozo Yamamoto said on Wednesday ahead of a meeting of ruling party lawmakers supporting the premier's "Abenomics" economic policy mix.
The government plans to raise the levy to 10 percent from 8 percent next April but speculation has grown that Abe may delay the hike for a second time to avoid a hit to the sagging economy.
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Written By: Reuters
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