TOKYO - Japanese Finance Minister Taro Aso said on Friday there was no change in the government’s stance that it would go ahead with a planned sales tax hike in October, barring a big economic shock on the scale of the collapse of Lehman Brothers.
The remarks by Koichi Hagiuda, acting secretary-general of Abe’s Liberal Democratic Party , fueled speculation that the prime minister might postpone the twice-delayed tax increase despite his repeated vows that it would go ahead. The previous tax increase to 8 percent from 5 percent in April 2014 hit consumers hard and triggered a sharp slump in the world’s third-largest economy.
Source: News Formal (newsformal.com)
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