Japan $76 Billion Tax Increase

Check out this article, regarding Japans Bond problems!

Source: Bloomberg Business Week. Kan Plans May Require $76 Billion Japan Tax Rise

“June 16 (Bloomberg) — Japanese Prime Minister Naoto Kan may have to raise taxes by as much as 7 trillion yen ($76 billion) to fulfill his pledge to cap bond sales in coming years, according to an independent adviser to the government.

Kan has committed to holding new bond sales to 44.3 trillion yen through the year to March 2012. At the same time, his administration is considering an annual public-spending limit of 71 trillion yen over the coming three years, according to two government officials familiar with the deliberations.”

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This entry was posted on June 16, 2010 at June 16, 2010 and is filed under International Markets. You can follow any responses to this entry through the RSS 2.0 feed.