Japanese Prime Minister Shinzo Abe set to delay sales tax hike

Japanese Prime Minister Shinzo Abe may postpone a sales tax hike planned for next year, perhaps by as much as three years, sources in government confirmed the same. He justify this step as part of G7 efforts to avert another global financial crisis. While the tax hike was seen as critical to reining in Japan's massive public debt, Abe and his aides have signalled the chance of deferring it as Japan's economy skirts recession and a threat of deflation re-emerges ahead of summer upper house.