Statement by Yoshimitsu Kobayashi, Chairman of Keizai Doyukai
On “Basic Policy on Economic and Fiscal Management and Reform” Draft

May 18, 2016

Yoshimitsu Kobayashi
Chairman, Keizai Doyukai

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1. A draft “Basic Policy on Economic and Fiscal Management and Reform” or “Basic Policy” was brought under deliberation of the Council on Economic and Fiscal Policy today. As corporations play important roles for economic revitalization, we corporate executives will make all-out efforts for corporations to drive the economic growth.
2. Meanwhile, our belief is that the achievement of the fiscal consolidation target requires a solid implementation of the Plan to Advance Economic and Fiscal Revitalization, including the consumption tax rate hike. In this regard, the Basic Policy should clarify the concreate approaches further toward the achievement of the fiscal consolidation target.
3. Referring to one of the agenda items of the Basic Policy “The establishment of the effective plan-do-check-act (PDCA) cycles”, we request the thorough assessment of the policy effects of the measures taken in accordance with the Basic Policy, Japan Revitalization Strategy, and the supplementary budgets over the past few years. The PDCA cycles should be structured with effectiveness on the basis of such assessment and incorporated into the policy making and the budget compilation.

Japanese version