Tuesday, 18 November 2014

Japan's Abe poised to announce snap poll, delay tax hike

Japanese Prime Minister Shinzo Abe was expected to announce on Tuesday that he will delay an unpopular sales tax rise and call a snap election, a day after data showed the economy had fallen into recession nearly two years after he returned to power. Abe was expected to announce his decision to delay the second planned rise to 10 percent from October 2015 - most likely for 18 months - and to state his intention to call an election for Dec. 14 at a news conference after his economic advisers meet, according to media and ruling party lawmakers.
Abe will hold a news conference from 7:10 p.m. (5.10 a.m. EST), his office said.

 News Credit: Reuters