JNP suggests stimulus plan

THE Japan New Party yesterday released its proposal for an emergency fiscal stimulus plan to encourage the Government to implement an income-tax cut, to be financed by the issuance of deficit-covering bonds, the Yomiuri newspaper reported.

The proposal also calls for adjustment of the yen-dollar exchange rate.

The Japan New Party is part of the ruling coalition headed by Prime Minister Morihiro Hosokawa, who is also president of the party.