Asia Bizz: Japanese economists have said the new year 2011 has begun with measures taken by the country to discourage consumer spendings. According to the analysts, the new eco-point subsidy and tax cuts along with significant changes in the economy, will surely halt the consumer spending in the country by some extent.
Since a couple of years, Japanese consumers have not been spending in full capacity compared to China and Korea. It has been reported that this situation will surely extend, thanks to the eco-point programme by the government, which has now become liable to only ‘five star’ efficient homes in country.
Eco-points will be provided to individuals who will be buying five star rated home appliances, only for the sake of replacing the existing products in their homes. During the last year, eco-points were slashed to as much as 40%, and this is something that has emerged due to the massive sales of flat screen televisions in the Japan. Japan has now become one of the most eco-sensitive nations in the world and has been taking steps to avoid the people from purchasing energy burning appliances.