As part of a policy of greater government transparency, the minutes, including nearly the full text of each speaker’s statement, of Japanese government cabinet meetings will be released three weeks after each meeting
Of relevance to the markets, PM Abe said:
“We are asking the public to pay an 8% consumption tax from today. The tax increase is to make up for social security costs which have been increasing every year and to maintain trust in the nation. All funds raised (by the increase) will be used to enrich and stabilize social security”
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Releasing cabinet minutes so soon after the meeting? Wow. Which other big democracy does that? (Not a rhetorical question … anyone else doing this?)
