Reuters: US Dollar Report: Japan finmin: no convincing reason to delay sales tax hike

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Japan finmin: no convincing reason to delay sales tax hike Aug 21st 2013, 06:28 TOKYO | Wed Aug 21, 2013 2:28am EDT TOKYO Aug 21 (Reuters) - Japanese Finance Minister Taro Aso said on Wednesday that he has not heard of any convincing reasons why the government should delay a sales tax hike planned for next year. Aso, speaking at a press conference, also reiterated his view that there is no reason for the government to reconsider its schedule for tax increases. Under a multi-party agreement last year, the tax is to rise to 8 percent from 5 percent next April and to 10 percent in October 2015 to pay for rising welfare costs. However, the government must certify that the economy is strong enough to withstand the pain of the tax hikes before making a final decision by October on whether to carry out the plan.

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