Abe now plans to cut the same tax he delivered

Abe pledges to cut consumption tax on necessities

Japanese Prime Minister Abe now plans to cut the VAT tax he introduced in April, at least on items deemed ‘necessities’. The move would be in exchange for hiking the VAT in April 2017, rather than Oct 2015 as planned.

The bottom line is that Japan is out of ideas, has zero fiscal discipline and is a demographic time bomb. The only hope they have is devaluing the yen so much that exporters come back to life.