Japan Economics Minister Says Abandoning Sales Tax Hike Not An Option

Japanese Economics Minister Akira Amari said on Tuesday that abandoning a planned increase in the sales tax is not an option unless there are significant external shocks to the economy such as the Lehman financial crisis.

Amari, speaking to reporters after a top government economic panel meeting, declined to comment whether there are alternative ways to raise the sales tax but said he would do the utmost to pave the way for the tax increases to be implemented as planned.

The planned increase in the sales tax is heavily indebted Japan’s most significant fiscal reform in years but recent developments have suggested that it could be delayed or watered down.

via Reuters

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza