politics

Diet to start debate on consumption tax hike bill on May 8

9 Comments

The ruling Democratic Party of Japan (DPJ) and the main opposition Liberal Democratic Party (LDP) and New Komeito Party have agreed to start Diet deliberations May 8 on the proposed bill to raise the consumption tax to 10% by 2015.

The LDP had so far refused to enter into negotiations on the controversial bill until Prime Minister Yoshihiko Noda fired two of his ministers who were censured in the upper house last on April 20. Noda refused to do so.

However, TV Asahi reported that there has been a growing division within the LDP over the party's decision to boycott Diet deliberations, with those against the boycott saying that the public is getting fed up with the opposition's stonewalling tactics, which might backfire against the LDP at the next election.

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9 Comments
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8th May will be a lucky day or crucifying of Noda's premiership...only Ichiro Ozawa knows.

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The consumption tax hike of 10% is NOT enough to save Japan from collapsing while GDP and population growth rate are declining and Japanese Baby Boomers are getting into retirement. Unless something drastic are proposed, and done shortly , then, this tax hike is a drop in bucket.

However, TV Asahi reported that there has been a growing division within the LDP over the partys decision to boycott Diet deliberations

They can oppose the tax hike as much as they wish, but I warn you STRONGLY that your currency will be a worthless toilet paper within 4 years. Or Social programs of Japan will be in peril. You need to get it done regardless. Forget about party line politics, rather, focus on their jobs how they were elected to do.. They need to shift the focus to the foundamentals, that is what is the best interest for Japan and Japanese people. Let's move and rock & roll!.

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8th May will be a lucky day or crucifying of Noda's premiership...only Ichiro Ozawa knows

@some13some

Ozawa know NOTHING!!

Ozawa is still in mental block. Many things on the manifest of DPJ proposed are outdated. Things and the world have changed including Tohoku Earthquake and EU.

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No matter how much "division" there is, this will still go through....and then it will be jacked up to 15%, then on to 20%.

-1 ( +1 / -2 )

I've got an idea, since Ishihara was so eaisily able to raise money for those islands he wants to buy, why not put him in charge of raising enough money to get Japan out of debt! ;)

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@Matthew, it may not be a bad idea, but he has many challenges ahead. These are the things he needs to do.

1)Public spending cut. 2)GDP growth more than 3.5% for the next 10 years. 3)Increase tax 4)Encourage population growth

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The Diet

'appropriate name in this case, you think? to afford them gucci bags, you're gonna need to cut back somewhere. Food consumption seems one possibility.

'should get them there hunger strike guys from the nuke issue and lend them out for this issue as well.

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So, can we expect doubling of the amount of eliminated government and bureaucratic waste too? Daruma ( Noda ) seems only interested in pushing this increase through to please his Finance Ministry while ignoring all the other promises that got DPJ elected ...ie..cutting the govt waste FIRST! ...then raise taxes if still needed.

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It always amazes me that doubling the consumption tax and diverting all that money to seniors is somehow seenas more socially palatable then just reducing the money paid out to seniors, who are already getting far more back from the pension system than they ever paid into it (and are already far richer than the generations coming after them will ever be).

Just cut pension payments by a percentage, particularly for the people getting the highest benefits. Raising consumption tax inordinately impacts the poor, and also impacts people who are in their highest-spending years, such as parents of children. Watch the fertility rate ratched down even further as some families choose not to have that last kid because expenses have gone up. Then, 30 years from now, watch as the government starts panicking about pension problems again because there aren't enough young working taxpayers.

Here's a tip: Mr. Noda: any society that favors the old, rich, and non-working at the expense of the young, less-rich, working population is a society that will collapse.

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