Tax cuts in demand

Article Abstract:

Businesses and economists in Japan are asking the government to implement tax cuts to raise consumer spending and revive the economy. The requested tax cuts become even more important in view of the growing trade surplus and the expected economic rise of between 1.4% to 1.6 % in FY 1992. Although the cuts would minimally affect the state revenue from direct taxes, politicians do not believe the initiatives will trigger increased consumer spending. Nevertheless, approving the tax cuts could prove a popular decision with voters.

Planning, Tax deductions, Tax policy, Tokyo, Japan

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Good value

Article Abstract:

Japan's consumer-finance companies are now a respected part of the finance industry. The so-called sarakin quickly process unsecured, individual loans of up to three million yen. Reforms in 1983 reduced their number from 220,000 to 37,000 and lowered the maximum interest they charge from 109.5%; today it is a competitive 27%. Their default rate fell from 7% to as low as 0.2%. Three of the six largest sarakin will list shares in Tokyo in Sep and Oct 1993.

Japan, Finance, Services, Consumers, Loans

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