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May 03, 2024
 

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CONSUMPTION

COMMENTARY / Japan / SENTAKU MAGAZINE
Jul 21, 2013
Hesitating on sales tax hike?
Prime Minister Shinzo Abe is said to be considering delaying the increase in the consumption tax rate currently scheduled to take effect in April 2014.
Japan Times
BUSINESS
Jul 21, 2013
Confidence in monetary easing growing among G-20, Kuroda says
Bank of Japan Gov. Haruhiko Kuroda says confidence in the central bank's radical monetary easing experiment is spreading among the Group of 20 finance chiefs.
BUSINESS / Economy
Jul 19, 2013
April-June GDP forecast faces upgrade to 3%
Economists are projecting that the economy grew at an annualized rate of around 3 percent in the three months to June, surpassing the government's growth target for raising the consumption tax next April.
Japan Times
BUSINESS
Jul 11, 2013
Don't rush into tax hike, Abe adviser Hamada says
In what appeared to be a veiled warning, one of Prime Minister Shinzo Abe's most influential economic advisers has said he "doesn't have to rush" into the first stage of the sales tax hike unless the economy and the labor market have recovered.
BUSINESS / Economy
Jul 9, 2013
Sales tax hike contingent on economy: Aso
The government will not go ahead with the planned sales tax hike from the current 5 percent to 8 percent next April unless the economy is on a growth path, Finance Minister Taro Aso suggested Tuesday.
BUSINESS / Economy
Jun 20, 2013
April sales tax hike a given: Amari
Japan will answer the world's call and present a credible midterm fiscal plan by implementing the sales tax hike as planned next April, economic revitalization minister Akira Amari said Wednesday.
EDITORIALS
Jun 13, 2013
On track for a tax increase
The Abe administration seems hellbent on raising the consumption tax starting next year regardless of whether it threatens the nation's economic recovery.
COMMENTARY / World
May 15, 2013
Misplaced pride in conspicuous consumption
Wouldn't you laugh at someone who paid more than 200 times as much as you did for a watch, and ended up with an inferior product? Some lawmakers don't get it.
BUSINESS
Mar 28, 2013
Abe to decide on sales tax hike in fall
Prime Minister Shinzo Abe said Wednesday his administration will decide around October whether to raise the consumption tax to 8 percent from the current 5 percent in April 2014.
Japan Times
JAPAN / Media / MEDIA MIX
Jul 8, 2012
What nobody is saying about Noda's new consumption tax bill
Two weeks ago, the Lower House passed a law to increase the consumption tax to 10 percent by 2015, something Prime Minister Yoshihiko Noda has been pushing with blinkered, self-sacrificial dedication. Eventual final passage seems inevitable at this point, and so the only aspect deemed worthy of discussion by the major media is how it affects the ruling Democratic Party of Japan, which has splintered over the bill. As discussed in this space in April, the media bought the consumption tax hike a long time ago and the Finance Ministry made sure the dailies and TV networks "understood" what was at stake, namely Japan's future, which is being threatened by huge government deficits. Even the BBC seems to support the increase based on the idea that the consumption tax is too low by world standards. Experts who claim that the deficit is manageable and/or that the consumption tax isn't the best way to tackle it have been ignored, and now that the central issue has been pushed aside by the DPJ defection there's nothing left to talk about.
BUSINESS
Jul 7, 2012
IMF director praises consumption tax hike
The push by Prime Minister Yoshihiko Noda and his administration to raise the consumption tax is a key step that "will make the Japanese economy more agile and efficient," Christine Lagarde, managing director of the International Monetary Fund, said Friday in Tokyo.
BUSINESS / JAPANESE PERSPECTIVES
Apr 23, 2012
Consumption tax fiasco magnified by absence of financial fundamentals
To paraphrase Winston Churchill's all too famous words at the time of the Battle of Britain: "Never in the field of economic policy has so little been achieved by so many hours wasted by so many lawmakers." The outcome of the debate over Japan's consumption tax would surely extract a quote to surpass all Churchillian quotes in its acerbity were he here to witness it.
BUSINESS
Mar 15, 2012
Consumption tax hike 'not linked to growth'
The consumption tax could be raised even if the economy is contracting, the head of the Democratic Party of Japan's tax panel suggested Wednesday.
JAPAN
Dec 7, 2011
Specifics on consumption tax increase due before end of month: Azumi
The government will aim to specify when and by how much the 5 percent consumption levy will be hiked in the social security and tax reform plan it hopes to present by year's end, Finance Minister Jun Azumi said Tuesday.
JAPAN
Jun 1, 2011
Phased-in consumption tax hike to 10% eyed by 2015
The administration intends to outline a doubling of the consumption tax to 10 percent in stages by fiscal 2015 in its envisaged social security and tax reforms, official sources said Tuesday.
JAPAN
Jun 23, 2010
Consumption tax hot topic in first debate
Leaders of the ruling and opposition camps engaged in their first televised debate Tuesday ahead of the July 11 Upper House election, offering different takes on the crucial but politically unpopular topic of raising the consumption tax.
Japan Times
BUSINESS
May 28, 2010
New Keidanren chief Yonekura calls for hike in consumption tax
Hiromasa Yonekura, the newly appointed chairman of the Japan Business Federation (Nippon Keidanren), urged the government Thursday to raise the 5 percent consumption tax to improve the nation's fiscal health.
BUSINESS
Apr 14, 2010
Steady hikes sought for consumption tax
The Japan Business Federation (Nippon Keidanren) recommended Tuesday that the government gradually raise the consumption tax from the current 5 percent to at least 10 percent starting in fiscal 2011 to meet rising medical care and pension costs.
BUSINESS
Feb 17, 2010
Ministers willing to mull consumption tax hike
Cabinet members said Tuesday they are ready to start a debate on raising the consumption tax as long as the administration does not deviate from its pledge to avoid any increases before the next Lower House election.
JAPAN
Feb 16, 2010
Hatoyama says no hike in consumption tax now
Prime Minister Yukio Hatoyama pledged again Monday that he will not raise the 5 percent consumption tax during his four-year term through summer 2013, even though Finance Minister Naoto Kan is saying he wants to launch debate on a possible increase.
Weak yen fattens tourist wallets in Japan
People visit the Ameya Yokocho market in Tokyo's Ueno district during the Golden Week holiday on Tuesday.
Biden calls ally Japan ‘xenophobic’ along with rivals China and Russia
U.S. President Joe Biden speaks in Syracuse, New York, on April 25.
Number of vacant homes in Japan hits record high of 9 million
A vacant house in Tokyo is seen demolished in January 2020.
Saudi Arabia steps up Gaza-related arrests as Israel ties edge closer
The arrests for Gaza-related posts indicate Crown Prince Mohammed bin Salman’s regime will take a hard line against citizens not toeing the line when it comes to normalizing ties with Israel.
'So hot you can't breathe': Extreme heat hits the Philippines
A pedestrian cools himself with a folding hand fan as he waits for a ride along a road in Manila on Wednesday, as extreme heat hit the Philippines.
Kishida sets sights on energy and climate in South America trip
Prime Minister Fumio Kishida will use a policy speech in Sao Paulo to set out his vision for ties between Japan and South America, almost 10 years after former Prime Minister Shinzo Abe advocated for stronger ties between the two in the same city.
Yellow sand allergy: A health issue made worse by climate change
A screenshot of the Meteorological Agency's satellite image of clouds and yellow sand (in pink) on Sunday.
Climate change, chalky grains and the risks for Japan’s rice farmers
A farmer plants seedlings in Satsumasendai, Kagoshima Prefecture. Japan’s self sufficiency rate for rice is nearly 100%, compared with 38% for food overall, on a calorie basis.
Japan wants you to spend more with ‘luxury tourism’
Performers play a traditional drum unique to Wajima, Ishikawa Prefecture, in the prefectural capital of Kanazawa on March 16 to mark the extension of the Hokuriku Shinkansen line to Tsuruga Station in Fukui Prefecture.
Theaster Gates’ ambitious ‘Afro-Mingei’ brings Black Chicago to Tokyo
Theaster Gates' “A Heavenly Chord” lines up church pews before seven speakers and a Hammond B3 organ, a type of electric organ prevalent in Black American churches.

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