Japan PM to postpone sales tax rise, snap election off table for now


  • World
  • Wednesday, 01 Jun 2016

Japan's Prime Minister Shinzo Abe arrives for a news conference at his official residence in Tokyo, Japan June 1, 2016. REUTERS/Thomas Peter

TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe announced on Wednesday a delay in a sales tax increase by 2-1/2 years, putting plans for fiscal reform on the back burner amid weakness in the economy.

Abe made the widely expected announcement at a nationally televised news conference.

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