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[Provisional Translation]

Prime Minister Shinzo Abe held the 20th meeting in 2015 of the Council on Economic and Fiscal Policy at the Prime Minister's Office.

At the meeting, there was discussion on the “Basic Principles of FY2016 Budget Formulation,” “achieving a ‘600 trillion yen economy,’” and “various matters pertaining to comprehensive economic and fiscal reform (the administrative and financial systems of local governments, and other matters).”

Based on the discussion, the Prime Minister said,

“Through the ‘three arrows’ of Abenomics, we restored the Japanese economy to a growth track and are on the verge of exiting deflation.

We will strengthen our efforts further and work on structural issues, such as the aging of society and the declining birthrate, while cementing our progress toward the largest GDP in postwar history of 600 trillion yen, with the aim of creating a society in which all one hundred million-plus citizens are each dynamically engaged.

Using the fruits of growth of Abenomics, I intend to reinforce our foundation for childcare and social security, and construct a positive cycle of growth and distribution that will further enhance our economy via the strengthening of those foundations.

Until now, we have held many discussions focused on the choice between growth or distribution.
We will put an end to that.

The society with dynamic engagement of all citizens is a proposal for a new socioeconomic system that truly produces a positive cycle of growth and distribution.

Today, we have received the report on the basic principles of FY2016 budget formulation.

The next fiscal year will be the first year of the Plan for Economic and Fiscal Revitalization.
With regard to the execution of policies, including measures for realizing a society in which all one hundred million-plus citizens are each dynamically engaged, I would like the relevant ministers to take thorough steps to ensure that the basic policy from the next fiscal year of simultaneously advancing efforts to overcome deflation and achieve economic revitalization and efforts for fiscal soundness is reflected precisely in the budget.

Regarding the reform of the administrative and financial systems of local governments, we will advance the reform of regional subsidies through a ‘top runner’ method, whereby the leading municipal initiatives and results are applied to other municipalities in a format that is in line with the actual situation of the region implementing the new measures. I ask that Minister Takaichi steadily realize this concept.

Additionally, while concretely and strongly promoting horizontal roll outs of best practices in public services, I would like the IT Strategic Headquarters and Ministry of Internal Affairs and Communications to collaborate with the regions, and thoroughly promote initiatives for the fostering of personnel that can advance IT strategies and so forth in the regions, and initiatives for securing human resources that can serve as CIOs.”