Tokyo Has a Revenue Hole. Plug It With Tourists: Gearoid Reidy

Two different stories have played out in Japan at very distinct paces over recent months.

First, a long-running debate over the amount workers must earn before paying tax. Such policy anywhere can be a snoozefest, and nowhere more so than in Japan. Embattled Prime Minister Shigeru Ishiba, needing the support of an opposition party that made raising the tax-free threshold its signature policy, has endured months of back-and-forth debate.

The passing of the budget this week put us out of our misery . A major holdup was the concern over a supposed ¥7 trillion to ¥8 trillion gap ($47 billion to $54 ...