Yoshihiko Noda has staked his premiership on the issue and, just four months into the job, is trying to avoid becoming the sixth prime minister in as many years to disappear beneath the waves of Japan's viciously factional politics. In a policy speech at the opening of the new session of parliament, Noda will set a deadline of the end of March for submitting to lawmakers proposed legislation that will ramp up the cost of everything from rice to Rolexes. With burgeoning pension and social security costs in a country where the population is greying and shrinking, only around 40 percent of what the government spends is currently made up from taxes. The rest is financed from borrowing, leaving debt at more than double the country's GDP, an eyewatering ratio that dwarfs troubled Greece and will only expand unless more tax is raised, experts warn. Noda has nailed his colours firmly to the mast of boosting the current five percent consumption tax in stages to 10 percent in October 2015. The proposals could raise tax receipts by roughly 10 trillion yen ($130 billion), the first step towards Tokyo weaning itself off borrowing. The government had intended to achieve a primary balance surplus by 2020, but now admits it is unlikely to hit that target. "We stand at a crucial moment as to whether Japan can create the type of politics that fully explain tough subjects and seek public understanding," Noda said in a recent address. His proposals have support from major media, businesses, international organisations and think tanks, who say Japan must begin bailing out soon. But opinion polls consistently show he has a long way to go to persuade the public of the merits of their coughing up more in an economy struggling to keep its head above the water. An opinion poll earlier this month showed 79.5 percent of Japanese are opposed to the plan to double consumption tax unless the government moves to significantly cut its own costs. Noda's problem is compounded by an opposition party that smells blood. Despite originally coming out in favour of hiking the tax, the Liberal Democratic Party now refuses to discuss the matter and is demanding the PM go to the polls to seek a mandate for the tax rise. In his speech to parliament, Noda is expected to call on the opposition, which controls the upper house, to at least sit down at the negotiating table to discuss his tax hike proposal. On January 13, Noda reshuffled his cabinet, bringing in fiscally conservative policy wonk Katsuya Okada to drive through reform of the social security and pension systems and oversee the tax hike. He also bowed to rival parties' demands to sack two of his ministers in the hope the opposition might play ball in the coming parliamentary term. Noda and Okada must explain the seriousness of Japan's predicament to voters, said Tomoaki Iwai, politics professor at Nihon University. They should stress plans to cut MPs' and civil servants' salaries, and reduce MPs' numbers, he added. "Only the tax hike has drawn attention," said Iwai. "If he could show that politics is also doing its part to feel the pain and discuss the merits of the policy package, he could lay a case for people to consider."