Okuda urges gradual increase in consumption tax rate to 16%

Okuda urges gradual increase in consumption tax rate to 16%

TOKYO, Japan - Hiroshi Okuda, chairman of the Japan Business Federation (Nippon Keidanren), delivers a speech at a Kyodo News-sponsored event at Japan National Press Club in Tokyo on Nov. 26. Okuda proposed hiking the rate of the consumption tax from the current 5% to 16% from fiscal 2004 through fiscal 2014 to stabilize Japan's finances. (Kyodo)

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