JCP proposes financial measures to help small businesses

Emphasizing the need for measures to help small- and medium-sized businesses survive, the Japanese Communist Party on September 24 proposed an alternative to the present government financial policy.

The JCP calls for the "structural reform" based on the law of the jungle to be revoked immediately. This reform policy has been promoted by the Koizumi Cabinet under the so-called "Takenaka Plan" designed by Takenaka Heizo, the state minister in charge of financial policy.

The proposal points out that the Koizumi Cabinet with its "swift disposal of non-performing loans" policy is driving smaller businesses into bankruptcy one after another and that the "Takenaka Plan" will surely give an additional blow to them.

The JCP insists on an end to the mechanical application of schedules for writing off bad loans and make assessments that reflect real financial conditions, improve loan conditions for smaller businesses, and eradicate black-market financing.

"We will make representations to the Financial Services Agency and city banks calling on them to change their present policy and will actively use parliamentary discussions for promoting the JCP proposal," said Kokuta Keiichi, JCP Diet Policy Commission chair. (end)