Japan’s efforts for fiscal reconstruction

Prime Minister Naoto Kan said Friday Japan’s efforts for fiscal reconstruction so far have not been sufficient so he wants to develop a vision for the next two or three years, possibly from the beginning of 2011.

“Regarding fiscal consolidation, I don’t think it is anywhere near enough,” Kan said in a group interview with major media outlets after his Cabinet approved a record-high draft budget of 92.41 trillion yen for the next fiscal year.

“On such issues, I want to explain many things to the public after the turn of the year while setting the direction by putting the next two and three years into perspective,” he said when asked about how he hopes to restore the country’s finances and the possibility of raising the consumption tax rate. (PNA/Kyodo)

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