Japan's ruling coalition has agreed to a proposal to maintain the 8% consumption tax rate for food and newspapers sold on a subscription when the standard rate is increased to 10% effective 1 April 2017. However, meals consumed in restaurants and alcoholic beverages will be subject to the increased rate. Keeping the 8% rate for these products is meant to reduce the burden on consumers and help avoid a repeat of the large drop in economic output that followed the increase in the rate from 5% t…