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Japan’s lower house passes sales tax bill
BBC – Japanese broadcaster NHK reported that 57 ruling party lawmakers failed to back the bill. These included party founder Ichiro Ozawa, who has indicated he could form a new political party. If others were to follow him, Mr Noda could be forced to call an election. Mr Noda says doubling the tax from 5% to 10% by 2015 is key to cutting Japan’s high public debt and funding rising welfare costs. Read article
Tags: 2nd Great Depression, Asia, debt wealth, politics
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