29 October 2001, 09:23  Takenaka - Japan must push for faster reform but needs to follow

HONG KONG (FWN) - Japan's Minister for Economic and Fiscal Policy Heizo Takenaka said his government needs to push for a faster pace of reform but at the same time needs to pay attention to the normal procedures of a democratic society. Speaking at the East Asia Economic Summit, he said it is inappropriate to compare directly reforms conducted by the Japanese government as against those carried out by companies. He said a corporation can easily change its budget but a government will need to consider the workings of the Diet in arriving at a budget. "We have to pay more attention to these (procedures) than the private companies," he said. Takaneka said the government's reform programme is currently in the second half of the first stage. The second stage of the reform programme involves more fundamental changes to the pension scheme, taxes and the budget, he said.

© 1999-2024 Forex EuroClub
All rights reserved