Following is the gist of remarks made by Mr. Takashi Imai, Chairman, Keidanren, at a scheduled press conference on 18 October 2001. Translation is rush and tentative, and sequence of the gist does not necessarily coincide with words delivered.
(Asked on the current state of Japanese economy)
The largest reason of the current economic slump is the IT slump in the U. S. The terrorist attacks should have some effect but the extent is yet unknown. If you look around, however, car sale, department store sale, and domestic travel are showing better figures. Though we may find -1% growth, but I am not particularly worried about that.
(Asked on his views on to be proposed supplementary budget)
The supplementary budget under discussion may look small. However, spending more will aggravate fiscal debt situation. Important thing is to exclude traditional type of public works spending from the draft package.
(Asked on how he views government discussion on consolidated corporate tax returns)
To compensate the revenue decline to be caused by introduction of consolidated tax return scheme, I favor reducing tax benefits and incentives rather than increasing tax on other ends. What I want is to make sure the consolidated corporate tax return system will be implemented from the next fiscal year.
(Asked on his views over Financial Services Agency (FSA)'s plan to mobilize its stockholders' rights on government-capitalized banks)
Slow-moving banks are still troubled by non-performing loans (NPLs). To overseas observers, Japan problem equals NPLs. FSA deserves to have a tough stance on these troubled banks when there are no other choices.
(Asked on what he hopes to achieve from WTO Doha conference)
WTO is a complex negotiation forum. U. S. wants labor issue, Europe wants environment, Japan wants investment rules, and developing countries fear the goal would favor only developed countries. For Japan, investment rule are very important. I plan to request the government to keep up with the pledge.
(Asked on his views on mad-cow disease in Japan)
Effects are minor. Consumers are finding pork as alternative to beef. Farmers must be compensated. It is evident that Japan lagged behind other major countries in securing safety of food supplies.