ID :
9753
Wed, 06/11/2008 - 01:54
Auther :
Shortlink :
https://oananews.org//node/9753
The shortlink copeid
Gov't refreshes resolve to cut spending under new policy guideline+
TOKYO, June 10 Kyodo - The government showed on Tuesday the outline of its new economic policy guideline that involves pledges to maker further efforts to cut its spending and step up the battle against climate change.
In a related move, a key government panel said that despite its shrinking and aging population, Japan can achieve an annual 2 percent or higher economic growth during the next 10 years through job creation and other measures.
The government submitted the gist of what is called the ''big-boned'' policy guideline to the Council on Economic and Fiscal Policy, the key advisory panel to Prime Minister Yasuo Fukuda, while council members renewed their calls for the government to reduce social security costs and ensure fiscal health.
At the panel's meeting, Fukuda stressed the government will never give up its earlier goal of cutting the costs by 220 billion yen every year between fiscal 2007 and 2011, according to economic and fiscal policy minister Hiroko Ota. The prime minister also said social security will never be a ''sanctuary'' that could evade the government's campaign for spending cuts.
The private-sector members of the panel urged the government to cut social security costs through such measures as reduction in outlays for employment insurance programs and wider use of cheap generic copies of patented drugs.
The outline also refers to the proposed use of road-related tax revenues for wider purposes, a policy strongly supported by Fukuda as part of government efforts to reduce expenditures and overhaul the country's tax system.
In order to fight global warming, the outline includes plans to create a ''low-carbon'' society as unveiled Monday by the prime minister in an initiative to curb carbon dioxide emissions.
It also mentions the government's intention to promote consumer-oriented administration, following a series of problems like food poisoning and false labeling of products.
Also Tuesday, the council approved Japan's new growth strategy, which will be a main pillar of the big-boned guideline. It underlines that the world's second-biggest economy will aim to reach 2 percent or more growth in real gross domestic product terms in each of the next 10 years.
As one of key policies for that end, the panel pointed to the need to create 22 million jobs among youths, women and the elderly by the end of March 2011.
It also said Japan must attract more foreign direct investment, demanding related ministries establish clear rules concerning corporate mergers and acquisitions by the end of this summer.
Amid recent controversy over some foreign funds holding shares in Japanese companies which serve public interests, such as a utility firm and an airport operator, the council called for discussions about ''exceptions'' in which the government can regulate foreign capital.
It also mentioned environmental protection, stressing that Japan should maintain its dominance in the field of clean and energy-efficient technologies.
In a related move, a key government panel said that despite its shrinking and aging population, Japan can achieve an annual 2 percent or higher economic growth during the next 10 years through job creation and other measures.
The government submitted the gist of what is called the ''big-boned'' policy guideline to the Council on Economic and Fiscal Policy, the key advisory panel to Prime Minister Yasuo Fukuda, while council members renewed their calls for the government to reduce social security costs and ensure fiscal health.
At the panel's meeting, Fukuda stressed the government will never give up its earlier goal of cutting the costs by 220 billion yen every year between fiscal 2007 and 2011, according to economic and fiscal policy minister Hiroko Ota. The prime minister also said social security will never be a ''sanctuary'' that could evade the government's campaign for spending cuts.
The private-sector members of the panel urged the government to cut social security costs through such measures as reduction in outlays for employment insurance programs and wider use of cheap generic copies of patented drugs.
The outline also refers to the proposed use of road-related tax revenues for wider purposes, a policy strongly supported by Fukuda as part of government efforts to reduce expenditures and overhaul the country's tax system.
In order to fight global warming, the outline includes plans to create a ''low-carbon'' society as unveiled Monday by the prime minister in an initiative to curb carbon dioxide emissions.
It also mentions the government's intention to promote consumer-oriented administration, following a series of problems like food poisoning and false labeling of products.
Also Tuesday, the council approved Japan's new growth strategy, which will be a main pillar of the big-boned guideline. It underlines that the world's second-biggest economy will aim to reach 2 percent or more growth in real gross domestic product terms in each of the next 10 years.
As one of key policies for that end, the panel pointed to the need to create 22 million jobs among youths, women and the elderly by the end of March 2011.
It also said Japan must attract more foreign direct investment, demanding related ministries establish clear rules concerning corporate mergers and acquisitions by the end of this summer.
Amid recent controversy over some foreign funds holding shares in Japanese companies which serve public interests, such as a utility firm and an airport operator, the council called for discussions about ''exceptions'' in which the government can regulate foreign capital.
It also mentioned environmental protection, stressing that Japan should maintain its dominance in the field of clean and energy-efficient technologies.
