The biggest issue on the election agenda, "consumption tax reduction"... 88% of experts are "against"

Survey of Nikkei Economists As Japan's upcoming House of Representatives election on August 8 approaches, both the ruling and opposition parties are proposing a "consumption tax cut" as a measure to address high prices, but many economic experts are found to be opposed, according to a survey. The results of a joint survey conducted by the Nihon Keizai Research Center, announced by the Nihon Keizai Shimbun (Nikkei) on the 30th, show that out of 50 economists surveyed from the 22nd to the 27th, 46% responded "No" and 42% responded "Not at all" to the question of whether a "zero (0)" consumption tax rate on food would be more beneficial for the Japanese economy, totaling 88% of negative evaluations. Professor Sato Yasuhiro of Urban Economics at the University of Tokyo pointed out that if the supply side remains unchanged, it is highly likely that inflation will accelerate as demand is stimulated. Associate Professor Hasegawa Makoto of Fiscal Studies at Kyoto University criticized ...