Japan Chemical Trading Blog

The latest chemical trading industry insights from Japan, Asia and the world, reported by the President of Daishin Corporation, Masa Oguchi.

Further Consumption Tax Increase to 10% May Be Postponed

The Nikkei Newspaper published an article today under the banner headline “Consumption Tax Increase to 10% May Be Postponed”.
The consumption tax rate was increased from 5% to 8% in April 2014, and the rate was scheduled to be further increased to 10% in October 2015.
However, according to the article, Prime Minister Abe reportedly stated that he was “basically moving toward putting off” raising the tax from 8% to 10% and would decide as soon as the start of next week.

This disappointed me.
It is obvious that in order to repay the Japanese government debt that has grown to a massive amount, the government must increase the consumption tax rate as well as reconsider its profligate binge of public spending.
How can a family last for a long time if a husband earns only 50,000 dollars a year while his wife spends 100,000 dollars. We need more income and less waste!

Further Consumption Tax Increase to 10% May Be Postponed

The Nikkei Newspaper published an article today under the banner headline “Consumption Tax Increase to 10% May Be Postponed”.
The consumption tax rate was increased from 5% to 8% in April 2014, and the rate was scheduled to be further increased to 10% in October 2015.
However, according to the article, Prime Minister Abe reportedly stated that he was “basically moving toward putting off” raising the tax from 8% to 10% and would decide as soon as the start of next week.

This disappointed me.
It is obvious that in order to repay the Japanese government debt that has grown to a massive amount, the government must increase the consumption tax rate as well as reconsider its profligate binge of public spending.
How can a family last for a long time if a husband earns only 50,000 dollars a year while his wife spends 100,000 dollars. We need more income and less waste!