Prime Minister Yoshihiko Noda attended the 8th meeting of the Tax Commission in FY2011 held at the Prime Minister's Office.

Discussion took place on the Basic Policy on Reconstruction from the Great East Japan Earthquake and the Basic Policy on the Framework of the Complete Settlement of the Litigation over Hepatitis B, and other matters.

The Prime Minister said in his opening address, "The major challenges for the foreseeable future are threefold: the recovery and reconstruction from the Great East Japan Earthquake; the complete settlement of the issue of Hepatitis B; and the response based on the final draft proposal for the comprehensive reform of social security and taxation systems. Each of these challenges involves taxation measures.
With regards to reconstruction, the measures for one will be based on the Basic Policy on Reconstruction. In other words, the principle of the Basic Policy on Reconstruction is that we will not leave the burden for future generations to bear, but that our generation today will cooperate on sharing that burden among ourselves. The measures will also be based on the Basic Act on Reconstruction. This means that reconstruction bonds will be issued under a different management structure than general Government bonds, and a clear roadmap for reimbursement will be provided.
Furthermore, we shall carry out discussions on the materialization of the comprehensive reform of social security and taxation systems based on the final draft proposal. Article 104 of the FY2009 Supplementary Provisions of the Tax System Reform Act stipulates that the necessary bills must be submitted by the end of this fiscal year. On that basis, I would like to ask that you take steps accordingly. I look forward to a number of options being presented."