2 Sep 2013
Most experts back sales tax hike: Japan's Economy Minister
FXstreet.com (Barcelona) - The Japanese tax hikes look set to a be implemented as planned next year, as most expert appear to endorse the new fiscal measures, which may consist of either an aggressive and initial 3% rise from 5% to 8% by April 2014 or a softer approach, with 1% annual increments.
As reported by Takashi Mochizuki from the Washington Journal, citing Japan's Economy Minister Akira Amari, "In the end, there are more people who say we should follow the plan than those who say we shouldn't." Among the 60 experts who testified last week, 46 supported the current tax timetable, while 10 proposed a change of the plan.
The latest pro-sales hike news follow an early report by FXstreet.com Asian Team last week, in which Nomura noted that "a Nikkei survey of professional domestic investors on the consumption tax hike, suggested that the tax hike has now become a consensus", with Yujiro Goto, FX Strategist at the Bank, adding that the hike should support Japanese equities and USDJPY.
The final decision by Japanese Prime Minister Mr. Abe is expected during the first week of October.
As reported by Takashi Mochizuki from the Washington Journal, citing Japan's Economy Minister Akira Amari, "In the end, there are more people who say we should follow the plan than those who say we shouldn't." Among the 60 experts who testified last week, 46 supported the current tax timetable, while 10 proposed a change of the plan.
The latest pro-sales hike news follow an early report by FXstreet.com Asian Team last week, in which Nomura noted that "a Nikkei survey of professional domestic investors on the consumption tax hike, suggested that the tax hike has now become a consensus", with Yujiro Goto, FX Strategist at the Bank, adding that the hike should support Japanese equities and USDJPY.
The final decision by Japanese Prime Minister Mr. Abe is expected during the first week of October.