Noda Faces Short Honeymoon in Drive to Increase Japan Taxes
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Yoshihiko Noda becomes Japan’s sixth leader in five years, seeking a consensus to raise taxes to pay for rebuilding from the March earthquake and nuclear disaster and reduce the world’s largest debt. He’s unlikely to get it.
The lower house of parliament elected Noda prime minister today after the ruling Democratic Party of Japan yesterday chose him to succeed Naoto Kan. As Kan’s finance minister, Noda advocated an increase in levies to help finance disaster reconstruction, something opposed by his challengers in the race.