The nation's three major business lobbies, hoping to bolster stock prices from their 20-year lows, called Monday for a freeze on the tax on capital gains from the sale of shares.

The Japan Business Federation (Nippon Keidanren), the Japan Association of Corporate Executives and the Japan Chamber of Commerce and Industry made the proposal to the government. They also urged the government to suspend the tax on stock dividends and halve the tax burden on inheritance.

The measures target stocks that investors bought or will buy in fiscal 2003.