Prime Minister Yoshihiko Noda has expressed his resolve to implement social security and tax reform in a video message shown at the World Economic Forum in Davos, Switzerland.

The prime minister did not attend the annual meeting of the world's political and business leaders to focus on Japan's ordinary Diet session.

Noda said many democracies are struggling to solve difficult issues. And he says the divisions are preventing politicians from enacting legislation that would benefit the public.

He said global financial markets are overwhelming national governments, exemplified by the debt crisis in Europe.

Noda pledged to build a sustainable social security system in Japan and implement major reforms to achieve fiscal discipline. The reform plan includes consumption tax hikes.

He said with strong political will and practical solutions he thinks a social consensus for reform can be attained.

Japanese prime ministers attended the World Economic Forum in the past, including Naoto Kan last year and Taro Aso in 2009.

News credit: http://www3.nhk.or.jp/daily/english/20120127_06.html

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