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Speeches and Statements by the Prime Minister

Transcript of Video Message from Prime Minister Shinzo Abe on the Growth Strategy

Friday, June 14, 2013

[Provisional Translation]

It was half a year ago that we began our fight against prolonged deflation and a loss of confidence in ourselves.

I will restore a strong economy.
Fully determined, I have launched three "arrows," which are my three prongs of economic revival.
We are engaged in bold monetary policy in which the government and the Bank of Japan take united action. We are also undertaking flexible fiscal policy through urgent economic countermeasures.

The results of this have been a dramatic turnaround, from annualized GDP growth of minus 3.6% in last year's July to September quarter to plus 4.1% in this year's January to March quarter.
April's ratio of job offers to job seekers has recovered to the pre-Lehman Shock level. Production and consumption are both undoubtedly improving.

My Growth Strategy, the third of my three "arrows," will now take its turn.
My Strategy has three key words: "challenges" - actively taking on challenges - "openness" - openness to other countries - and "innovation."

The main actors in this will be you. We will support you as you take on various challenges.

I would like women to be more active in society.
"A society in which women shine" is the core of my Growth Strategy.
By eliminating childcare waiting lists, we will provide support for reconciling work with child-rearing.
We will promote "three-year childcare leave" for those who wish to focus on raising their child for a certain period.
We will thoroughly enhance vocational training and other assistance for parents returning to work.

I want young people to spread their wings around the world.
We will provide support so that all young people who wish to study overseas will be able to do so.

We will move forward in opening up to other countries and aim to be the most open in the world.

Japan's flavorful agricultural products are enormously popular even overseas.
We will press forward in bringing about structural reforms in agriculture, a shift to "sixth-order" industry, and an export strategy, thereby doubling the income of farmers and farming communities as a whole over the next decade. I myself will push forward, promoting Japan as the top seller.

Particle radiation therapy, painless injection needles, and robots for medical use, as well as iPS cells and other forms of regenerative medicine are among the latest medical technologies that offer a strong "light of hope" for people suffering from intractable illnesses, as I myself did.

Japan has a two trillion yen adverse balance of trade in medical services.
I firmly believe that Japan's innovation will succeed in turning this around.

At last the time for action has come.
Without action, there can be no growth.

The Growth Strategy decided today will be the start line.
I will be certain to bring stability to politics, and in the autumn I will launch the second round of the Growth Strategy.

We will submit to the Diet a bill for drastic reductions in taxes on investments and another to strengthen industrial competitiveness. The Diet to convene in the autumn will move forward as the "Diet to Execute the Growth Strategy."
I pledge to increase the per capita gross national income by no less than 1.5 million yen over the next ten years.

Some ask critically, "Can you really achieve that?"

However, this is a figure that we achieved in both the 1970's and the 1980's.
There is no reason whatsoever that this was achievable by the Japanese of the 1970's and 1980's but not achievable now.

"Japan will once more be able to play an active part in the heart of the world."

Let us now restore our confidence in ourselves and together take one more step forward.

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