ABSTRACT
A political party supports the elimination of taxes on investment (such as the capital gains tax) and higher taxes on consumption. It favours aggressive deregulation aimed at introducing more competition into sheltered sectors of the economy. It supports free trade. It favors an aggressive approach to Japan’s banking problems that would involve nationalizing most of the large banks, dividing them into ‘good’ and ‘bad’ parts, returning the good parts to the private sector, and disposing of the remaining assets at whatever price the market will bear. It favors the privatization of public corporations because of the role they play in propping up inefficient sectors of the economy. And it calls for the devolution of more powers to local governments, arguing that this will encourage localities to compete to make their communities attractive places to do business.
