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Referend $13027/1・ (112 HED ABGY)
the
Vistemal
Note for File
TAKUJIRO AND HAKIKO HAMADA
1. Lunch at No 1 House on 2 September with the Hamadas was a relaxed and friendly affair. Takujiro apologised for calling off his Cat I visit but offered no alternative dates.
2.
Makiko said that Mrs (Wataru) Hiraizumi had told her about the dinner in Karuizawa which the Hiraizumis hosted last month for the Miyazawas and Nakasones. Nakasone had asked Miyazawa which world leader he found the most impressive and received the answer "John Major" comparisons with Disraeli etc. We said Mr Major had been impressed by Mr Miyazawa too.
13.
On the economy, Takujiro said the recent package had gone down well. Miyazawa had shown personal leadership in dealing with the MOF, EPA etc. People had expected ¥8-9 trillion, so V10 trillion had heen psychologically good. Everyone had expected the end of the bubble to mean an economic slow-down, but things had gone too far, and it was now necessary to correct for the over-shoot. The Nikkei would soon be over 20,000, and the recovery be beginning by the end of the year. Asked about timing of the supplementary budget, he said that Sagawa would be over quite quickly, and the Diet reconvened on the normal timetable, so that there should be no serious delay to the budget.
4.
Takujiro showed little enthusiasm for political reform. Single-seat constituencies could not be introduced in the short term, but during the autumn Miyazawa would move on redistribution (+9,
10) and perhaps on transparency of financial contributions. Hamada's own constituency would move from 3 to 4 seats, but this would only make things easier for him in the very short term.
X115.
He is interested in seeing Chris Patten during his autumn visit, and said privately to the Ambassador that he could be used as a channel to Miyazawa any time we needed that.
Gify
GH FIY
Head of Chancery
CODE 18-77
1
3 September 1992
cc: PS
Mr Sherrington, FED, FCO EC
LEQUEIT !,,་ ་ ་ ་
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