Yale University economics professor and adviser to the cabinet and a close ally of Prime Minister Abe, Koichi Hamada, reported in the Nikkei (from a recent interview with the media organisation):
- The planned additional hike “would be acceptable as long as the economy is in good shape and it is combined with large cuts to corporate taxes”
- But “if gross domestic product continues to shrink, a consumption tax hike should be avoided”
- He added that it is difficult to judge whether conditions for a tax hike are in place right now … he needs to examine GDP data for the July-September quarter and beyond
