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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (28933)9/22/1999 3:42:00 AM
From: IQBAL LATIF  Read Replies (1) of 50167
 
Japan will not be able to
avoid an increase in the national consumption tax to keep up with
rising costs for education and welfare spending, an advisory
panel to Prime Minister Keizo Obuchi said, the Nihon Keizai
newspaper reported. At a meeting yesterday, members of the Tax
Commission said there is little alternative to raising the tax
from the current 5 percent, after bringing down income and
corporate taxes closer to international levels. The panel did not
specify when the sales tax should be raised, or by how much, the
report said.
The boosting of the consumption tax from 3 percent in April
1997 is widely blamed by economists for triggering Japan's worst
postwar recession.

(Nihon Keizai, 9/22, p.5)(www.nikkei.co.jp)
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