Consumption tax cut focused, but unlikely after Japan's 10/27 election

Ahead of Japan's general election on Sunday, some opposition parties are calling for cutting or abolishing the politically sensitive consumption tax to entice voters feeling the pinch from price hikes, but the proposals appear too good to be true.The ruling and main opposition parties have been reluctant to change the tax rate from the current 8 or 10 percent, arguing that the revenue needed to maintain the social security system and public services in such fields as medical, child and nursing care.The parties advocating for consumption tax reductions have also been criticized by political …READ FULL ARTICLE