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ECONOMY > Economic Policy

LDP Hagiuda says need to deal with tax hike flexibly if there is a change in the economy

Liberal Democratic Party Executive Acting Secretary-General Koichi Hagiuda noted at an online program broadcast on the evening of May 10 that though it is better to go ahead with the consumption tax hike in October as scheduled unless a major economic crisis happens, “I think the economy could be losing steam and thus it has become necessary to be sensitive to any slight change in figures on the horizon.”

 

Last month, Hagiuda mentioned the possibility of deferring a tax increase depending on the economic situation. This triggered speculation that Prime Minister Shinzo Abe may call a snap election along with the Upper House race this summer if the tax increase is postponed. In the program, he also noted that “it is a discourtesy to the public to keep saying that ‘increasing the tax has already been decided’.”

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