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&＃x65E5;&＃x672C;&＃x8A9E; (Japanese) Top About Keidanren Policy Proposals Publications Executives' Comments Top Policy Proposals Economic Policy, Social Security Toward Fiscal Consolidation and Efficient Fiscal Management Policy Proposals  Economic Policy, Social Security Toward Fiscal Consolidation and Efficient Fiscal Management May 27, 2013 Keidanren --> Summary The Japanese government will soon compile basic principles for Japan's economic and fiscal policy. In consideration of the circumstance, Keidanren published a proposal, "Toward Fiscal Consolidation and Efficient Fiscal Management." In the proposal, the government's current flexible fiscal spending is commended, but at the same time, considering the severity of Japan's fiscal conditions, Keidanren calls for immediate actions to step up efforts for restoring the nation's fiscal soundness which can coexist with sustainable economic growth. Major measures in the proposal 1. Early implementation of growth strategy The government needs to solidify an economic recovery on a boarder front. At the same time, through early implementation of its growth strategy including measures such as regulatory reform, it is required to strengthen the fundamentals of the Japanese economy in order to achieve the nation's fiscal reconstruction. 2. Steady rise in consumption tax rate As stipulated in a law related to the comprehensive reform of social security and taxation systems that was passed in the summer of 2012, the consumption tax rate should be steadily raised to 8% in April 2014 and to 10% in October 2015 to mark the first step towards fiscal reconstruction. 3. Clear roadmap for achievement of surplus in primary balance The government needs to show quantitative improvement targets for revenues and expenditures necessary for achieving a surplus in the primary balance by FY 2020. Also, these targets should be legislated in order to reinforce the government's commitment towards fiscal reconstruction. 4. Well-balanced containment and streamlining of expenditures The social security benefits should be streamlined and prioritized. The government also needs to promote administrative and fiscal reforms in local governments, concentrate on key infrastructure investments that contribute to strengthening Japan's international competitiveness, and utilize private finance initiatives (PFI) and public-private partnership (PPP). 5. Improvement of plan-do-check-act (PDCA) cycle for fiscal management The government needs to reinforce fiscal management and evaluation functions from the viewpoint of total optimization as well as to promote electronic administration accompanied with business process re-engineering (BPR). Economic Policy, Social Security Policy Proposals Comprehensive Strategy Economic Policy, Social Security Business Law Industrial Policy Urban and Local Development Industrial Technology Environment and Energy CSR, Education, DEI Labor Policy Trade, Investment, EPA/FTA International Cooperation Regional Affairs Archives 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 Pagetop Top About Keidanren About KEIDANREN Chairman's Message Officers of KEIDANREN Committee Chairs Secretariat Related Organizations Access Policy Proposals Comprehensive Strategy Environment and Energy Economic Policy, Social Security CSR, Education, DEI Business Law Labor Policy Industrial Policy Trade, Investment, EPA/FTA Urban and Local Development International Cooperation Industrial Technology Regional Affairs Executives' Comments Comment by Chairman Press Conferences Speech by Chairman Publications Contact us Links View: PC | Smartphone Copyright © 1995-2024. Keidanren. All Rights Reserved.