Was Abe Right to Delay Japan’s Tax Hike?
Prime Minister Shinzo Abe said he’ll delay an increase in Japan’s sales tax until 2019, a move that may help support consumer spending while complicating the government’s efforts to tame the world’s largest debt burden. The decision marks an about-face for Abe, who had previously said his policies would make the economy strong enough to withstand an increase in the consumption tax. He had repeatedly said that only an economic shock on the scale of the Lehman Brothers collapse or a major earthquake would prompt a delay. Aviva Investors Head of Multi-Assets Peter Fitzgerald discusses with Bloomberg's Anna Edwards on "Countdown."