Following is the gist of remarks made by Mr. Hiroshi Okuda, Chairman of Nippon Keidanren, at a press conference on 14 January 2003. Translation is rush and tentative, and sequence of the gist may not necessarily coincide with words delivered.
(On the consumption tax)
Point of no return is coming closer to the Japanese society. Japan's social security system would be ruined unless a redesign and modification of the total framework were undertaken immediately. In this context, Nippon Keidanren dared to play a devil's advocate and showed a simulation in which upraised consumption tax is expected to cover shortage of the revenue and contribute toward avoiding bankruptcy of the government. Every one of the Japanese people should join the debate to build national consensus on long-term management of the country. Were any other good plans generated and the social welfare sustained without raising sales tax, it would be the best choice. Nippon Keidanren keeps a distance from shortsighted discussions on effect of controversial tax raise on economic recovery and counter deflation measures.
(On a strong yen)
Although competitiveness of export-oriented companies will not be damaged with the current rate, weaker yen lead by artificial measures would be difficult.
(On a guideline for corporate donation)
Policies planed or implemented by political parties and/or politicians should be thoroughly and deliberately evaluated in the process of decision-making on corporate donations. Nippon Keidanren is working on a guideline for our members' reference.