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Edition: U.S. Article Comments (1) Slideshow Video Full Focus Editor's choice A selection of our top photos from the past 48 hours. Full Article Follow Reuters Facebook Twitter RSS YouTube Read Norwegian marathon great Waitz dies at 57 10:35am EDT Goldman profit drops as trading revenue falls 11:42am EDT RIM launches PlayBook, fans don't play along 11:29am EDT Apple sues Samsung, says stop copying us 7:30am EDT With much at stake, Asia voices confidence in U.S. debt 11:32am EDT Discussed 92 Palin returns with feisty, anti-establishment speech 83 Obama to lay out deficit plan with focus on tax, spending 74 UPDATE 1-Geithner says Congress will pass debt limit increase Watched Cupless bra combats cleavage crinkle Fri, Apr 15 2011 VW unveils new sporty Beetle Mon, Apr 18 2011 South Korean "super gun" packs hi-tech killing power Mon, Feb 14 2011 Japan eyes sales tax rise to pay for post-quake rebuild Tweet Share this By Linda Sieg and Kazunori Takada TOKYO (Reuters) - Japanese consumers may have to help foot the reconstruction bill after last month's earthquake and tsunami caused $300 billion of damage, further burdening the hugely indebted economy, a newspaper... Email Print Factbox Japan's disaster in figures Mon, Apr 18 2011 Related News Analysis: Japan nuclear crisis could drag on long past timetable Mon, Apr 18 2011 Q+A: Japan's nuclear owner aims for shutdown of reactors Mon, Apr 18 2011 With an eye to Japan, world pledges cash for Chernobyl 7:54am EDT Areva to set up Japan nuclear clean-up site 8:10am EDT Analysis & Opinion The politics of S&P’s U.S. debt warning Geithner vs. Ryan on S&P’s debt warning Related Topics World » Japan » Natural Disasters » Stocks Related Video No fear of nuclear meltdown: Japan 12:16pm EDT Ex-regulator resigns from TEPCO 1 / 21 A remote-controlled robot called ''Packbot,'' which has capabilities including manoeuvring through buildings, taking images, and measuring radiation levels, is seen getting its picture taken by another Packbot in Tokyo Electric Power (TEPCO) Co.'s crippled Fukushima Daiichi Nuclear Power Plant No.1 reactor building in Fukushima, northern Japan, April 18, 2011 in this handout photo released by TEPCO on April 19, 2011. Credit: Reuters/Tokyo Electric Power Co. THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. IT IS DISTRIBUTED, EXACTLY AS RECEIVED BY REUTERS, AS A SERVICE TO CLIENTS. MANDATORY CREDIT By Linda Sieg and Kazunori Takada TOKYO | Tue Apr 19, 2011 9:21am EDT TOKYO (Reuters) - Japanese consumers may have to help foot the reconstruction bill after last month's earthquake and tsunami caused $300 billion of damage, further burdening the hugely indebted economy, a newspaper said on Tuesday. It would be the first increase since 1997, though a sales tax hike had been the subject of fierce political debate before the earthquake struck as one way for Japan to dig itself out of its massive debt. The government is considering raising the tax by 3 percentage points to 8 percent when the new fiscal year starts next April, the Yomiuri newspaper reported. "It was clear even before this disaster and the need to secure funds for reconstruction that to ensure a sustainable fiscal situation, some sort of reform of spending and revenues was necessary," said Internal Affairs Minister Yoshiro Katayama. "The debate over the fiscal situation is not something that began with this disaster," he told reporters. The government hopes to avoid issuing new bonds to fund an initial emergency budget, expected to be worth about 4 trillion yen ($48 billion), due to be compiled this month. But bond issuance is likely for subsequent extra budgets which will only make it harder for Japan to rein in its debt, already running at twice the size of the $5 trillion economy. The mood among consumers about the prospects for jobs and incomes darkened in March after the quake, a Cabinet Office survey showed. Though the triple disasters of quake, tsunami and nuclear crisis are bad news for the Japanese economy, the damage is not expected to spill over across the region. The Asian Development Bank's chief economist said he saw little sign of a serious negative impact on other Asian economies. The government says it has not yet decided how to fund the rebuilding cost but the Yomiuri said it had ruled out raising income and corporate taxes. "I am aware that the Democratic Party is considering various methods, including this (tax rise). But the government is not considering any specific funding methods at this stage," top government spokesman Yukio Edano told a news conference. Katsuya Okada, secretary-general of the ruling Democratic Party (DPJ), said on Sunday taxes had to rise to repay new government bonds that will be needed to pay for reconstruction. A poll by the Nikkei business daily showed about 70 percent of Japanese voters would support a tax hike, but want unpopular Prime Minister Naoto Kan to be replaced. IMPACT OF NUCLEAR CRISIS 1 2 Next World Japan Natural Disasters Tweet this Share this Link this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (1) kartfisch wrote: tax the people who are going to need to buy things to rebuild their lives, brilliant! the japaneese goverment has learned well from the U S. I am convinced that all goverment officals are a bunch of over educated idiots. Apr 19, 2011 8:00am EDT -- Report as abuse See All Comments » Add Your Comment Social Stream (What's this?) © Copyright 2011 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Super Lawyers Attorney Rating Service Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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