Finance Minister Masajuro Shiokawa said Tuesday that he will tell Japan's Group of Seven partners that the nation is ready to bolster its fragile economy by cutting taxes and accelerating the disposal of bad loans held by Japanese banks.

This week's meeting of the G7 industrial powers, scheduled to be held in Halifax, Canada, on Friday and Saturday, comes amid mounting pressure on Japan to achieve visible results from the structural reform agenda pursued by the administration of Prime Minister Junichiro Koizumi.

Shiokawa told a news conference Tuesday that he will outline Japan's tax reform plans to his counterparts from the United States, Canada, Britain, France, Germany and Italy.