Top officials from Japan's ruling coalition have said they will endorse Shinzo Abe's plan to postpone the consumption tax hike, despite opposition from several other parties. Abe explained his controversial decision at an earlier meeting with key members of the ruling Liberal Democratic Party and coalition partner Komeito.

LDP policy chief Tomomi Inada has called for the Lower House of parliament to be dissolved if the rate hike is to be postponed. Japan's economy has been stagnating in the past two decades, and raising consumption tax is one of the few options left for the government to increase its fiscal income. But a previous in 2014 led to plunging consumer spending in Japan.