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A hike in Japan's consumption tax has been opposed on the grounds that it could damage an already weak economy. (ISSEI KATO/ISSEI KATO/REUTERS)
A hike in Japan's consumption tax has been opposed on the grounds that it could damage an already weak economy. (ISSEI KATO/ISSEI KATO/REUTERS)

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Japan clears hurdle to consumption tax Add to ...

The government and the ruling Democratic party of Japan agreed on Friday on a draft plan to raise the country’s controversial sales tax from 2014, taking a key step towards improving the country’s stretched finances.



Prime minister Yoshihiko Noda has faced an uphill struggle to convince some members of his own party, the opposition and the public that the tax is needed to help restore Japan’s fiscal health at a time of global fears over sovereign debt. The tax has been opposed on the grounds that it could damage an already weak economy.

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