Japan's Prime Minister Shinzo Abe announced on 15 October 2018 that the government will move forward with the increase in the consumption tax rate from 1 October 2019. According to Abe, the rate will be increased from 8% to 10% as planned and the government will take measures to avoid a repeat of the negative economic impact that resulted from the prior increase from 5% to 8% in 2014. The incre…