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Economists question Japan's planned consumption tax hike

Abe 'will not hesitate to take fiscal action' in face of global downturn

Japanese Prime Minister Shinzo Abe is confident that the higher consumption tax will not be a drag on the economy. (Photo by Toshiki Sasazu)

TOKYO -- Japan's ruling Liberal Democratic Party and its junior partner Komeito won a majority of seats in the country's upper house election on Sunday, paving the way for Prime Minister Shinzo Abe's planned consumption tax hike in October.

The tax increase was one of the key election issues.

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