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On February 22, Prime Minister Naoto Kan spoke to reporters at the Prime Minister’s Office. He reported that he had convened a ministerial meeting to respond to the earthquake in New Zealand. Kan expressed his condolences to all those caught up in the disaster and to the government of New Zealand, and vowed to make every necessary effort in response.
Asked what form Japan’s resources diplomacy would take with the price of crude oil rocketing in the face of the volatile situation in the Middle East, Kan responded, “We will make further efforts from now on to diversify our supply sources for natural resources and energy sources such as oil, and to secure stable supplies.”
Kan was asked for his thoughts regarding the possibility of engaging in large-scale amendments of the budget proposal. He answered, “The enactment and implement of the budget and related legislation is the most urgent matter for the Japanese people. If implementation is delayed as the economy experiences an upturn that would not be desirable for Japan. I would like to explain this thoroughly during the debate in the House of Representatives and the House of Councillors, and to obtain the understanding [of both Houses].”
Following reports that overseas credit-ratings’ companies are expected to lower Japan’s credit rating, Kan was asked whether there was any effective way of dealing with the situation. He replied, “A thorough implementation of comprehensive reform of the social security and tax systems is the most important factor for credit-ratings and for securing the confidence of the markets.”
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