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Policy Proposals  Economic Policy, Social Security Eight Policy Challenges Awaiting Solution (Summary)

January 22, 2013

Business plays an important role: Expanding domestic output, creating job opportunity and thus improving national welfare, through providing useful goods and services. Japan's business environment, however, deteriorates and corporate vitality is deprived. This is why Japan's economy has been ailing for very long time.

The key for getting out of this economic slump is to expand domestic investment, accelerate innovation and improve productivity, through realizing to facilitate Japanese business can compete with foreign competitors. Also, in order to end current deflation and set out to achieve a steady growth at a level of around nominal 3%, the following eight policies should be carried out without delay.

  1. Promote regulatory reform, help the private sector to take initiative, and attract investment from inside and outside the country

  2. Formulate and implement responsible and balanced policies in consideration of safety, energy security (stable supply), economic efficiency and environmental suitability, while drastically reviewing anti-global warming policies

  3. Maintain an appropriate currency exchange rate while avoiding sudden fluctuations

  4. Conduct fiscal policies and a tax system reform which contribute to economic growth

  5. Promote TPP and other economic partnership agreements, and meet demand in Asian and other emerging countries

  6. Control the public burden imposed on working generations and companies

  7. Propel decentralization reform of the administrative system and realize the regional government system called doshu-sei

  8. Implement educational reform aimed at strengthening human resources development

Economic Policy, Social Security