A Tough Choice For Japan To Raise Consumption Tax As The Economy Slows
A slowdown in Japan’s economic recovery from its worst postwar recession suggests that the economy may be too weak to sustain the higher consumption taxes being considered by the newly appointed Prime Minister. Earlier, in a move to contain the country’s public debt, the Prime Minister indicated that he was considering raising the sales tax to 10% from 5% currently. The administration also pledged to balance the budget by fiscal 2020 and cap public spending for the next three years.
The World Economy... - 1/7/2010
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