The fact that he committed himself so strongly to the consumption tax increase shows the very heavy influence of the Ministry of Finance. Politically it’s remarkable that the MOF managed to convince Noda to bring about a collective suicide of the whole party.
Koichi Nakano, a political science professor at Sophia University in Tokyo. He says the planned sales tax increase may cost Prime Minister Yoshihiko Noda the next election, which must be held by August 2013. (Bloomberg)