Black Friday Sale! Save huge on InvestingProGet up to 60% off

Japan finance minister Aso - Important to stick with sales tax hike plan

Published 24/10/2014, 01:24
© Reuters Japan's Deputy Prime Minister and Finance Minister Taro Aso puts his hand on his ear to listen to a reporter's question at a news conference in Beijing

TOKYO (Reuters) - Japanese Finance Minister Taro Aso said on Friday the government should stick with its plan to raise the sales tax to 10 percent next year to maintain trust in the government debt market.

Aso told reporters that when the government compiles the next fiscal year's budget in December, it will take appropriate measures to make sure it can carry out the sales tax hike next year.

In April the government raised the sales tax to 8 percent from 5 percent to pay for welfare and healthcare spending. Some ruling party lawmakers argue that the government should delay next year's tax hike because the economy is not strong enough.

© Reuters. Japan's Deputy Prime Minister and Finance Minister Taro Aso puts his hand on his ear to listen to a reporter's question at a news conference in Beijing

(Reporting by Stanley White; Editing by Chris Gallagher)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.