Japan thanks G8

Japan thanks G8

JAPAN, fresh from a record package to revive its flagging economy, will consider a review of private consumption taxes from "a broad perspective", Ryutaro Hashimoto, the Japanese Prime Minister, said yesterday. Speaking at the close of the annual summit of the Group of Eight nations, Mr Hashimoto said he had not expected the G8 to give such a strong welcome for last month's 16 trillion yen package. As well as paying tribute to Japan's stimulus measures, world leaders stressed in a statement released on Friday the need for Japan to overhaul its ailing banking system. - Reuters.