Hit to Japan consumption by sales tax hike unlikely to be as bad as 2014: Moody’s
FILE PHOTO: Pedestrians cast shadows as they make their way at a financial district in Tokyo, Japan, January 26, 2017. REUTERS/Kim Kyung-Hoon
The relatively small magnitude of the hike is another reason the hit to spending shouldn’t be as big as felt in 2014, said Christian de Guzman, a senior vice president of sovereign ratings at Moody’s. The government has taken measures to ease the pain on consumers from higher costs, such as shopping vouchers, different tax rates and discounts for cashless payments.
“The fiscal consolidation trend that we’ve seen since 2011 has paused over the past two years,” he said. “Over the medium term we do see deficit reduction continue to happen, just not at the pace the government foresees.”
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Japan tax agency finds Ghosn used Nissan money for private use: reportJapan's tax authorities have determined former Nissan Motor Co Ltd ...
Read more »
S&P warns of blow to Japan regional banks if negative rates deepenJapanese regional banks will see core operating profits fall by 21% if the centr...
Read more »
Aiming at Olympic boom, Japan builds 'Ethnic Harmony' tribute to indigenous AinuOn a wooded lake shore in northern Japan, the government is building a modernist...
Read more »
Scorsese vs Marvel: Japan is Watching, But Local Directors are not Joining the FrayThe social media skirmish that broke out after Martin Scorsese called Marvel movies “not cinema” and compared them to “theme parks” has reached Japan. There has been heavy local coverage of the bac…
Read more »
Mike and Zara Tindall are joined by surprise royal during Japan tripMike and Zara Tindall were joined by a surprise royal relative during their trip to Japan. Mike has been in Tokyo over the past week with his House of Rugby co-stars
Read more »