President George Bush's chief economic advisor, Robert Hubbard has urged the Japanese government to cut overall corporate tax rates rather than targeting specific sectors for tax breaks, according to an AFX News report.
An unnamed Finance Ministry official told the news agency that the US advisor had made the recommendation during talks with Finance Minister, Masajuro Shiokawa last week.
'Hubbard told Shiokawa in his meeting this afternoon that corporate tax cuts in the US had a positive impact on the economy, while the effect of R&D incentives saw a mixed response,' the official revealed on Thursday.
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