Top �� What's up around the Prime Minister �� November, 2003

The 24th Meeting of the Council on Economic and Fiscal Policy Friday, November 21, 2003 The 24th Meeting of the Council on Economic and Fiscal Policy was held at the Prime Minister's Official Residence. At the meeting, the second intensive discussion was held on the system and policy reform as well as discussions on the draft items to be incorporated in the "Guidelines for Formulation of the FY2004 Budget." In the intensive discussion, opinions were put forward by the knowledgeable members from the private sector that the state subsidies should be abolished or reduced to one trillion yen as a goal for the promotion of the reform package of three issues and that transfer of tax sources to local governments must be definitely made in FY2004. Furthermore, active discussion took place as Mr. Takeo Kawamura, the Minister of Education, Culture, Sports, Science and Technology; Mr. Toshimitsu Motegi, the Minister of State for Science and Technology Policy; and Mr. Nobuteru Ishihara, the Minister of Land, Infrastructure and Transport attended the meeting as temporary members and made reports on the measures for the reforms under their respective administrative jurisdictions. The Council on Economic and Fiscal Policy is scheduled to hold two more intensive discussions on various issues, in particular the reform package of three issues and pension reform by December.