To gain the maximum benefits from the forthcoming economic stimulus package, the government must avoid spending lavishly on conventional public works projects, the Japan Federation of Economic Organizations (Keidanren) said April 16.
The nation's most influential business lobby made the point during its meeting with Mitsuo Horiuchi, minister for international trade and industry, according to a MITI official.
Keidanren officials, led by Chairman Shoichiro Toyoda, who is also chairman of Toyota Motor Corp., named three areas -- tax reform, new social infrastructure, and land and housing sales -- as requiring immediate measures.
Specifically, they are asking that the tax burden on both companies and consumers be reduced on a permanent basis and that social infrastructure, such as the telecommunications network, be improved.