From the FT over the weekend “Japan signals second tax hike will go ahead”, on an interview with Japan’s economy minister Amari.
- He said said a “second increase in taxes was “necessary” to meet rising costs for social security and to prevent a collapse in confidence in Japan’s ability to rein in its vast budget deficit.”
- “In judging whether the consumption-tax hike is going to be implemented or not, we have to think whether any kind of measures can be taken so that the economy does not sink back into deflation”
- “The key point here is that the Bank of Japan and the government should be aligned with each other.”
More at the article, but it may be gated
I can’t ever see this pic getting old
(Note – the sales tax in Japan is planned to rise from the current 8% (it was from 5% on April 1 this year) to 10% in October 2015.)