Kyodo News A proposal by the Cabinet's administrative reform headquarters asking Government Housing Loan Corp. to effective stop extending new loans is meeting stiff opposition from the Land, Infrastructure and Transport Ministry, promising heated debate toward the end of the year.
The headquarters secretariat, a coordinating body supervised by Nobuteru Ishihara, state minister for administrative and regulatory reforms, proposed to cut the amount of state money allocated to the corporation, which came to some 440 billion yen in fiscal 2001. This is the largest allocation of funds to any government-backed entity.
One in eight households in Japan holds a loan from the corporation.