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Strategies & Market Trends : World Outlook -- Ignore unavailable to you. Want to Upgrade?

To: Don Green who wrote (1001)	10/26/2002 8:14:06 PM
From: Don Green	Read Replies (1) \| Respond to of 48733

Finance Ministry Plans to Raise Consumption Tax to 10 Percent dg> This could be enough to finally push Japan over the edge Prime Minister Koizumi pledged a more than one trillion-yen (approx. $8.8 billion) tax cut in his address at the beginning of the extraordinary Parliament session. However, it has been found that this tax reduction plan was just lip service from Prime Minister Koizumi. The tax cut policy was made by a behind-the-scenes agreement between the Prime Minister's Residential Office and the governing parties as a way to push stock prices up. Now, it was found that the Ministry of Finance has been planning to raise the consumption tax to 10 percent from the current 5 percent. The Ministry is suffering from the decrease in national tax income collections.