Promises on reforms
- Capital gains tax could be used to re-distribute wealth but priority must be on...
- Tax reforms needed to raise wages
There is a growing global problem that wages are not rising fast enough to keep up with the cost of housing. Pricing younger people out of the housing market will be stabilising for social cohesion in the longer run, so Gov't's will be trying to balance wealth distribution. Expect it to be an ongoing global theme.
For now the market is relieved that no capital gains tax increase is coming. This helps to weaken the JPY.
