Categories: In-Depth with Nippon.com
Prime Minister Abe Shinzō announced on June 1 that he would postpone raising the consumption tax from 8% to 10% until October 2019. The decision marks the second time for Abe to delay the hike, putting it a full four years later than planned. During the press conference announcing the postponement Abe pointed to risks to the world economy from such factors as a slowdown in emerging and developing economies, saying his decision was necessary to prevent a drop in domestic demand.
Author: Tobias Harris
Categories: Japan Political Pulse
The spring Diet session ended on June 1 with the Abe government enjoying overwhelming support just five weeks before Japan votes for half of the members of the 242-seat House of Councillors (HOC). Prime Minister Shinzo Abe’s hosting of the G7 summit in Ise-Shima May 26-27, U.S. President Barack Obama’s historic visit to Hiroshima, and Abe’s decision to postpone the 2% consumption tax increase scheduled for April 2017 until October 2019 have all contributed to a significant jump in the administration’s support.