Abe mulling putting off consumption tax hike to Oct. 2019

posted on May 29, 2016

Japanese Prime Minister Shinzo Abe is considering postponing the consumption tax hike to 10 pct from 8 pct planned for April 2017 by two and a half years to October 2019, government sources said Saturday.

He conveyed the plan to Finance Minister and Deputy Prime Minister Taro Aso, Chief Cabinet Secretary Yoshihide Suga and Sadakazu Tanigaki, secretary-general of the ruling Liberal Democratic Party, in their talks Saturday night.

The prime minister initially studied putting off the tax hike by two years.

But Abe is now mulling the longer postponement apparently to prevent the tax increase from having an impact on a triennial election for the House of Councillors, the upper chamber of the Diet, Japan's parliament, in summer 2019.

source by jiji
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