• Kyodo

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Japan will not go ahead with a consumption tax hike planned for October 2019 if the economy deteriorates to levels seen before Shinzo Abe returned to the prime ministership in late 2012, the top government spokesman said Friday.

Chief Cabinet Secretary Yoshihide Suga said job availability stood at 0.83 and the U.S. dollar had been as low as ¥75 before Abe’s Liberal Democratic Party won a landslide victory and Abe launched his economic policy, dubbed Abenomics, in December 2012.

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