Japan's LDP promises to privatize postal services in 2007

Japanese Prime Minister Junichiro Koizumi said his ruling Liberal Democratic Party’s (LDP) campaign platform for the Nov 9 general election, including a pledge to privatize postal services in 2007.

Koizumi, the LDP president, said the party also promised to privatize money-losing public corporations, reform the social security system and sustain economic growth.

The prime minister dissolved the lower house of the parliament on Friday, paving the way for the general election.

“Privatization of the postal system is no longer Koizumi’s personal project,” Koizumi told a news conference at the LDP headquarters.

“This has become a promise made by a political party for the first time.”

“Our private sector has gone through major reform, with many firms having conducted restructuring. But the public sector with its vested interests is still slow to change,” he said.

“That’s why we must reform the public sector. We will let the private sector handle what it can do. We will allow local governments to handle what they can do” rather than the national government making decisions for them, Koizumi said.

The LDP said it will hold a national debate to decide details of the postal service privatization in one year.

The party also promised to submit legislation next year to privatize debt-ridden government corporations responsible for the nation’s expressways.

The LDP also announced to reform the social security system to deal with the nation’s aging population and secure 2.0 pct nominal economic growth in fiscal 2006.

Its other pledges include increasing the number of police officers to improve public safety and draft a proposal to amend the constitution in 2005.

Koizumi reiterated his earlier promise not to raise consumption tax at least for the next three years.

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