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Japan PM determines to curb debt

09-14-2011 09:15 BJT

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New Japanese Prime minister Yoshihiko Noda is pledging tax and fiscal reforms.During his first policy speech in parliament, Noda says the government and the central bank need to do all they can to tame the yen's strength.

Japan's Prime Minister Yoshihiko Noda has outlined his determination to curb the country's snowballing debt, warning in his first policy speech on September 13, that taxes will have to rise.

Noda adds Japan has to do everything possible to tame the yen's strength, to stop companies from leaving.

Noda said, "With the yen at historically strong levels now, and developing nation's rapidly catching up, we are confronted with an unprecedented crisis of our nation's industry hollowing out."

New Japanese Prime minister Yoshihiko Noda is pledging tax and fiscal reforms.

Noda also wants to lower Japan's dependency on nuclear power, after the March earthquake and tsunami triggered a nuclear crisis and power shortages.

Noda said, "We must move towards our mid and long term goals of lowering as much as possible our reliance on nuclear energy."

The Noda government is expected to submit to parliament next month a bill to fund post-quake reconstruction, likely to exceed 130 billion US dollars.

New Japanese Prime minister Yoshihiko Noda is pledging tax and fiscal
reforms.

 

New Japanese Prime minister Yoshihiko Noda is pledging tax and fiscal
reforms.

Editor:Li Wanran |Source: CNTV.CN

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