25 July 2001, 09:06 Koizumi urges tax, monetary measures to shore up stocks - report
TOKYO (AFX-ASIA) - Prime Minister Junichiro Koizumi has told Taku
Yamasaki, secretary general for the Liberal Democratic Party, to draw
up securities taxation reform plans and monetary policy measures in
order to help prop up falling stock prices, the Nihon Keizai Shimbun
reported, without citing sources.
At the prime minister's request, the ruling coalition parties - the
LDP, New Komeito and the New Conservative Party - will hold a
policymakers meeting today to discuss bringing forward plans for
securities tax reform, it said.
Koizumi, however, dismissed so-called price-keeping operations,
which use public funds such as postal savings and insurance funds to
support share prices, it said.
Policymakers from the ruling LDP, New Komeito and the New
Conservative Party will discuss the introduction of capital loss
carry-forwards to deal with the risk-averse streak shown by many
individual Japanese investors, it said.
Under the current tax code, stock market investors are not
permitted to utilise capital losses for tax purposes in future years.
ys/jr
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