Postal privatisation bills

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Japanese Prime Minister Junichiro Koizumi has proposed splitting the powerful and rich Japan Post into four separate companies: a bank, an insurance company, a post office, and a company to handle the retail storefronts on these three. This has been a central goal of his administration. In 2005, a bill to complete this reform passed the lower house of the Japanese legislature by a handful of votes, with many people from Koizumi's LDP defecting. The bill was subsequently defeated in the upper house because of scores of defection from the ruling coalition. Koizumi immediately dissolved the lower house and scheduled elections to be held on September 11, 2005. He has declared this election to be referendum on postal privatisation. Most opposition parties support postal privatisation but not Koizumi's bill. Many consider the bill deeply flawed with too long a time for full implementation and too many loopholes that might create a privatisation in name only.

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