Japan’s economic plans: Sales tax plus stimulus
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Japan’s government debt equals about 230 percent of its gross domestic product. To raise money to pay that down, the government will increase the national sales tax to 8 percent.
Paying off massive debt seems prudent, but to avoid slowing the economy with the higher taxes, Japanese officials in the next day or so will propose a $53 billion spending package. Host David Brancaccio speaks with the BBC’s Rupert Wingfield Hayes in Tokyo.
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