Abe Postpones Japan's Sales-Tax Hike Until Late in 2019
- Delays unpopular rise in consumption tax to 2019 from 2017
- Abe pledges bold economic measures in fall, few details given
Japan Delays Sales Tax Hike for 2.5 Years
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Prime Minister Shinzo Abe said he’ll delay an increase in Japan’s sales tax until 2019, a move intended to support struggling households ahead of an election this summer.
The decision marks an about-face for Abe, who had vowed his policies would make the economy strong enough to withstand an increase in the consumption tax. He had repeatedly said that only an economic shock on the scale of the Lehman Brothers collapse or a major earthquake would prompt a delay.