The number of executives and employees at 95 government-affiliated corporations should be cut by 10 percent, and another 10 percent cut should be applied to expenditures on public works projects under their umbrella, according to a proposal made August 26 by a panel of the ruling Liberal Democratic Party.

The LDP panel on administrative reform compiled a set of proposals to downsize governmental corporations in an effort to reduce public spending on such bodies at a time when the nation is seeking ways to recover fiscal health.

By the end of next March, combined long-term debts of the central and local governments are expected to hit 476 trillion yen.