Government Policy: Consumption Tax and Koichi Hagiuda

government policy: Chief Cabinet Secretary Yoshihide Suga also reiterated the government policy, after Koichi Hagiuda, executive acting secretary-general of Abe's Liberal Democratic Party, said Thursday, If the Bank of Japan's tankan business sentiment survey for June shows a risky outlook there would be a different development, according to The Japan Times. The BOJ will release the next quarterly tankan business confidence survey on July 1. The government has maintained that the consumption tax will be raised from 8 percent to 10 percent unless the economy suffers a shock on the scale of the global financial crisis triggered by the 2008 collapse of U.S. investment bank Lehman Brothers Holdings Inc. ; It is necessary to raise the tax to secure a stable source of revenue for a social security system oriented to all generations in dealing with the biggest challenge of a declining birthrate and aging population, Finance Minister Taro Aso said at a news conference. Hagiuda told reporters Friday his remarks had represented his personal view and that he did not intend to object to the government's policy. Aso suggested Hagiuda's stance had not been widely known by high-ranking ruling party lawmakers and members of the government before his comments, saying, At least Mr. Health minister Takumi Nemoto said, It is important to fully prepare for the tax increase, while education minister Masahiko Shibayama said, We have a consistent stance to raise the tax after taking every possible measure against a possible reduction in demand. (news.financializer.com). As reported in the news.