Statement by Yasuchika Hasegawa, Chairman of Keizai Doyukai
Awaiting Early Passage of Key Legislation
under Extraordinary Diet Deliberations
November 14, 2014
Chairman, Keizai Doyukai
The political vacuum must be eliminated now that Japan's economy is going through a crucial phase of exiting deflation toward a sustainable growth amid the increasing uncertainty of the international community. The current top priority is the early passage of key legislation under deliberations in the extraordinary Diet session such as two bills of local economy vitalization and the amendment bill of Worker Dispatching Act.
Should Prime Minister Abe ever judge that the parliament has to be dissolved, clarifications have to be made for the public as to the perspectives including; (1) a reform timetable of key three tax systems toward the reduction of the FY2015 primary balance deficit to half of FY2010 and achieving FY2020 primary balance surplus, which are Japan's international commitment as the fiscal consolidation target, (2) the future vision of the sustainable social security systems incorporating rationality of the consumption tax as well as the benefit curb and reduction, and (3) a blueprint for reducing Diet seats.