Assessing comprehensively by excluding this factor and by taking account of the perception of the relevant industries, a reactionary decline in demand after the tax hike so far does not seem to be as significant as that of the previous tax hike.
As a management tool, the practice of risk management so far, has failed to change human being behavior that tends to be easily trapped in complacency. That is, a tendency of not assessing risk properly in good time, partly covered by expected high return, but then reacting so extremely in reverse when thing goes in the opposite direction.