Japan PM Abe says no change to sales tax hike plan

"If the economy is hit by a shock on the magnitude of the Lehman crisis, we need to reconsider. Otherwise, we will proceed with the scheduled sales tax hike," Abe told parliament, adding that the government will take steps to counter any damage the higher levy poses on the economy.

Abe has pledged to raise Japan's sales tax to 10 percent from 8 percent in October next year.