On 5 December 1997, LFMI, in co-operation with the Friedrich Nauman Foundation, staged a major conference, PROLIBERAL REFORMS: LIFTING THE TAX BURDEN, to present its tax and budget reoform proposal. The event drew close to 70 participants, including members of parliament, government executives and advisors on economic issues, leading enterpreneurs, and a cross-section of media representatives. Papers to the conference were delivered by LFMI's policy analysts and a guest speaker Alan Reynold, Director of Economic Research from Hudson Institute. LFMI's President Elena Leontjeva spoke about the principles of the proposed tax system. Rūta Vainienė, Senior Policy Analyst, expanded on the measures necessary in creating a pro-liberal tax system. Remigijus Šimašius, Legal Expert, proposed a new approach to compiling the state budget. Guoda Steponavičienė, Policy Analyst, focused on the recommendations for a unified information system as a key to efficient tax administration. Alan Reynolds analysed the Lithuanian tax code in the context of tax reforms around the world. The LFMI's reform package provoked heated debates at the conference and received an extensive coverage in mass media and response from the business community, a prospect likely to facilitate LFMI's policy advocacy efforts.