ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Politics

Japan's strong GDP strengthens likelihood of October tax hike

Key players express support, quelling arguments for postponement

Japan's consumption tax rate is slated to increase to 10% from 8% in October.   © Reuters

TOKYO -- Leading figures within Japan's government and ruling coalition endorsed raising the consumption tax rate to 10% as planned in October after unexpected news on Monday that the country's gross domestic product grew 2.1% in the first quarter.

Japan's January-March real GDP, released by the Cabinet Office, beat forecasts of a slight contraction. When asked how this could affect the tax hike, Chief Cabinet Secretary Yoshihide Suga said "there will be no impact at all."

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more