Japanese business leader Masamitsu Sakurai called on the ruling Democratic Party of Japan Tuesday to overhaul its election campaign promises in order to fund reconstruction projects in areas battered by the March 11 earthquake and tsunami.
With only a limited amount of money available, the DPJ should rewrite its manifesto from scratch, Sakurai, chairman of the Japan Association of Corporate Executives, said at a news conference.
The No. 1 priority is postquake reconstruction, he said.
He said the government may have to put off implementing a planned corporate tax cut in fiscal 2011, which begins Friday.
But he also said the tax cut is one way to boost economic growth, another important challenge, suggesting the government should not easily seek funding for the reconstruction without keeping an eye on its policy perspective.