An emergency meeting held: Economic revival by the 200 billion tax reduction
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Rengo organized an emergency meeting on 28 October to hear counterplans for economic revival from those of political parties in charge of economic issues. Rengo urged them to seriously consider the implementation of the 200 million-yen special tax reduction.
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Mr. Nagase, Director of Labour Relations Bureau of the LDP, stated that the LDP was in the negative position to the special tax reduction and would discuss tax reduction in the area of education to respond to the decreasing birth rate.
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Mr. Noda of the New Frontier Party criticised the LDP in terms that it was too early to go ahead with the increase of consumption tax form 3% to 5% and the termination of the special tax reduction. Mr. Hino of the Democratic Party presumed, "It would be possible if we seriously get into the bottom of construction-centred public works." Mr. Hamada of Japan Social Democratic Party described that the JSDP as part of the ruling party was aiming at the 200 billion-yen tax reduction but could not guarantee its full implementation. Those from the other opposition parties also stressed the importance of the special tax reduction for the economic revival.
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