Seeking to tackle its high debt problem, Japan's top political parties have agreed to open talks...

|By:, SA News Editor

Seeking to tackle its high debt problem, Japan's top political parties have agreed to open talks on a controversial hike to the nation's consumption tax, a make-or-break issue for Prime Minister Yoshihiko Noda. Noda has vowed to pass the reforms in the current legislative session, with the current 5% consumption-tax rate to double by October 2015 in two stages.