Efforts for Recovery and restoration from the Great Eastern Japan Earthquake

Thanks to the efforts of all parties concerned, I think the rescue and relief operations for the victims have been so far successful to some extent since the terrible natural disaster. The transportation of relief goods and gasoline fuel has improved the initial troubles and confusion. Keidanren has sustained these operations by launching hot-lines with prefectures to specify their needs while setting up the sea and air transportation channels. It is urgent to organise a system so that the Japanese government can take on leadership. All the people should participate in the reconstruction of devastated areas. Keidanren will continue to make utmost efforts towards the national recovery and reconstruction.

We will cooperate in the effort to get over the electric power shortage through a variety of measures including utilisation of private electric generators. Further efforts and measures will be needed to address a surge in power demand in summer. The Japanese economy must continue to grow without declining the production.

Concerning the financing for the restoration and reconstruction, part of budgets and expenditures for some items such as reduction of expressway tolls and childcare allowance, listed on DPJ's manifesto, should be deferred and allotted to disaster restoration measures. When these measures are not ample enough, the issuance of government bonds and the review of overall tax system should be considered maintaining clear commitment to restoration of fiscal health. Holding off of corporate tax cut is one of the options without doubt.

Since hundreds of thousands of people are affected by the earthquake, the whole nation shares the sorrow and grief and the Japanese people are still in a mood of mourning. We have no other choice but promote business activities to revitalise the Japanese economy and ensure an early recovery and restoration.