News Article

Chief of Finance Taro Aso reiterates Japan’s dedication to the tax increase in October in the midst of delay speculation

Finance Minister Taro Aso affirmed the government’s desire to increase consumer income in October as scheduled from 8 percent to 10 percent.

While exports are sluggish owing to the Chinese financial slowdown, the jobs condition and income are increasing, Aso said at a Lower House Audit and Administration Oversight Committee session.

He said he was hoping to regain consumption

Koichi Hagiuda, a near assistant to Prime Minister Shinzo Abe, proposed the option of stopping the hike last month. Hagiuda said to an online television program: “We wouldn’t send the individuals to a cliff. His comment caused a lot of speculation, with some stating that Abe might think about stopping the hike for a third time

Abe has driven back the increase in consumer tax twice. It was last raised when it rose from 5 percent in 2014.

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