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Lawmakers discuss consumption tax hike

  • May 22, 2016
  • , NHK
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Lawmakers of both the ruling and opposition parties discussed the pros and cons of raising the consumption tax rate to 10% as planned in April 2017. LDP lawmaker Aizawa said that PM Abe will ultimately make a decision after taking into consideration various things. Komeito policy chief Ishida said the current economic situation is not as bad as the one during the Great East Japan Earthquake or the so-called Lehman Shock and rejected the idea of postponing the planned hike. Democratic Party Acting President Nagatsuma said the economy is in very bad shape at the moment and stressed the need to postpone the tax hike and focus on rebuilding the economy. Other opposition party members expressed opposition to the planned tax raise next spring.

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