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To: T L Comiskey who wrote (71868)	10/13/1998 11:05:00 PM
From: Mohan Marette	Read Replies (2) \| Respond to of 176388

<Economy-Japan>Stories from Major Japanese Morning Papers Oct.14th. Tim: See if you find this interesting? ================================= Major Newspaper Headlines Tue, 13 Oct 1998, 10:10pm EDT BN 10/13 Top Stories From Major Japanese Morning Newspapers, Oct. 14 Tokyo, Oct. 14 (Bloomberg) -- The following stories appeared in major Japanese newspapers this morning: Government to Declare Long-Term Credit Bank of Japan Insolvent Japan to Inject Public Money Into Major Banks to Bolster Capital The government and the ruling Liberal Democratic Party decided to inject taxpayer funds into the country's major banks to bolster capital regardless of whether the banks want public money, the Mainichi newspaper said, without citing sources. The move follows yesterday's passage in the lower house of legislation that will allow the government to recapitalize solvent banks. Bank of Japan Gov. Masaru Hayami is also expected to ask banks to accept the use of public money when he meets the press tomorrow. (Mainichi, front page) Japan's Tax Panel Head Calls for 6-7 Tln Yen Income Tax Cut Hiroshi Kato, head of the government's tax advisory commission, said Japan should implement personal income tax cuts worth 6 trillion yen to 7 trillion yen ($50.4 billion to $58.8 billion) to revive the economy, the Nihon Keizai newspaper said. Kato told the newspaper the 4 trillion yen tax cut proposed by Prime Minister Keizo Obuchi isn't enough to encourage consumption. The size of the total tax cuts, including corporate tax reductions, should be 10 trillion yen, he said. (Nihon Keizai, front page)