To help Japan's ailing manufacturing firms in their restructuring efforts, an advisory panel of government and business leaders endorsed a set of proposals Thursday that include tax cuts to dispose of excess facilities and extended benefits for the unemployed.

The proposals, compiled by the Japan Federation of Economic Organizations (Keidanren) and submitted to Thursday's Competitiveness Commission meeting, are expected to help create a package of measures to reinvigorate the Japanese industry in mid-June, with passage of bills as early as possible.

"We would like to reflect on discussions at the commission's meeting today as much as possible in the planned package of measures to be announced," Prime Minister Keizo Obuchi told the meeting.