The Japanese Trade Union Confederation (Rengo) submitted a request Tuesday for a 2 trillion yen income tax reduction and other measures to three opposition parties and two small non-Cabinet allies of the ruling Liberal Democratic Party.
Although secretary generals of Shinshinto, the Democratic Party of Japan, Taiyo Party, the Social Democratic Party and New Party Sakigake agreed that income tax cuts are needed, they differed on the scale and on financial resources, according to the participants. Rengo also called for securitizing real estate, giving tax breaks for investment to small and medium-size companies and increasing interest rates.
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