Global Update: Japan – Debate on Tax Hike

Japan is currently battling a dilemma as to whether to increase its sales tax. A group of 60 experts is meeting to discuss their views on the issue.  Prime Minister Shinzo Abe must “decide by early October whether he will go ahead with a plan to raise the current 5% sales tax to 8% next April and to 10% in October 2015.” According to law, the increase must be made but the Prime Minister has the right to delay it if it were to harm the economy.

The group of 60 agreed to enter the debate with no preconceived biases in order for the best outcome to remain possible.

What you do you think Japan should do? Post your views in the comment section below!