Japan Vows To Raise Sales Tax As Record Budget Passes Parliament

www.oann.com | 5/29/2017 | Staff
anikianiki (Posted by) Level 3
TOKYO (Reuters) – Japanese policymakers vowed on Wednesday to raise the sales tax to 10 percent as planned in October, following the passage in parliament of the budget bill for the next fiscal year beginning next month.

Speculation lingers among market players that Prime Minister Shinzo Abe may again put off the twice-delayed tax increase as Japan’s export-led economy sputters in the face of slowing global growth and the Sino-U.S. trade war.

Hike - Abe - Party - Elections - House

Proceeding with the politically unpopular hike could be risky as Abe’s ruling party faces national elections for the upper house in the summer, some analysts say.

“As I have said before, the sales tax will rise to 10 percent in October as stipulated by the law, unless an incident on the scale of the Lehman shock occurs,” Chief Cabinet Secretary Yoshihide Suga told reporters.

Parliament - Wednesday - Record - Yen

Parliament approved on Wednesday a record 101 trillion yen ($913.28...
(Excerpt) Read more at: www.oann.com
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