Abe dissolves parliament; delays sales tax

  • Japanese PM Shinzo Abe has announced an early election with parliament to dissolve on Friday; election to follow in December although no date has been set. 
  • Abe also announced the delay of a planned sales tax increase for 18 months; Japan fell into a technical recession yesterday with two quarters of negative growth following a previous sales tax increase in April. 
  • Sales tax was due to rise again in October 2015; will now not rise until April 2017.
  • Abe: 'If ruling coalition cannot maintain the majority then Abenomics will be denied and I will resign as prime minister'.