The government will soon implement more tax cuts after revising the Fiscal Structural Reform Law, which at present imposes strict financing restraints, Prime Minister Ryutaro Hashimoto implied during a Diet session April 6.
For the first time, Hashimoto made it clear before the House of Councilors Budget Committee that the Conference on Fiscal Structural Reform, which drafted the fiscal austerity law, will convene soon after the fiscal 1998 budget clears the legislature and becomes law. Hashimoto had earlier only hinted that the conference will convene.
The 77.67 trillion yen national budget plan is expected to clear the Upper House on Wednesday at the earliest. "The government will take appropriate measures to deal with serious economic problems at home and abroad," Hashimoto said during the Budget Committee session. "We will do what is necessary."