×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: paul krugman | japan | tax increase | abe

Krugman Urges Japan's Abe to Delay Sales Tax Increase, Says PM's Aide

Thursday, 06 November 2014 07:28 AM EST

Paul Krugman met Japanese Prime Minister Shinzo Abe and said he was concerned that a further increase in the nation’s sales tax planned for next year could hurt the economy, according to one of Abe’s aides.

Krugman, a 2008 Nobel laureate in economics, urged Abe to delay the bump scheduled for October 2015, without indicating how long he should postpone, said Etsuro Honda, an adviser to the Japanese leader who was present at the meeting.

Increasing the tax as scheduled could mean the failure of the prime minister’s revival program that’s been dubbed Abenomics, said Krugman, according to Honda. Abe didn’t give his own view on the tax during the meeting, said Honda.

The government has indicated a decision will be made by the end of this year on whether to proceed with an increase in the tax to 10 percent in October from the current 8 percent.

Expanded stimulus announced by the Bank of Japan on Oct. 31 has increased the chances of Abe going ahead with the tax hike, a survey by Bloomberg News shows.

A 3 percentage-point bump in the levy in April this year tipped the Japanese economy into the deepest contraction in more than five years.


© Copyright 2023 Bloomberg News. All rights reserved.


Markets
Paul Krugman met Japanese Prime Minister Shinzo Abe and said he was concerned that a further increase in the nation's sales tax planned for next year could hurt the economy, according to one of Abe's aides.Krugman, a 2008 Nobel laureate in economics, urged Abe to delay the...
paul krugman, japan, tax increase, abe
201
2014-28-06
Thursday, 06 November 2014 07:28 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved