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On June 15, 2018, Prime Minister Shinzo Abe concurrently held the 9th meeting of the Council on Economic and Fiscal Policy in 2018 and the 18th meeting of the Council on Investments for the Future, at the Prime Minister’s Office.
 
At the meeting, discussion was held on the draft Basic Policy on Economic and Fiscal Management and Reform 2018, and the draft Investments for the Future Strategy 2018.
 
Based on the discussion, the Prime Minister said,
 
“I want to thank you all sincerely for compiling the 2018 Basic Policy and the Investments for the Future Strategy 2018 today.
 
The Japanese economy is facing an urgent need to increase our potential growth rate by increasing productivity and securing human resources both in terms of quality and quantity as labor shortages become prominent.
 
For the sake of overcoming the constraints on growth posed by the declining birthrate and population aging, regarding the revolution in human resource development, we specified that we would eliminate childcare waiting lists, and make early childhood education and higher education free, as well as listed up specific measures for the productivity revolution aiming at Society 5.0.
 
In addition, we also made it clear that we would implement and materialize the work style reform, which is our greatest challenge. We also clearly wrote out our policies, including on the creation of a new category of residence status for foreign personnel who have specific expertise and skills so that they can hit the ground running.
 
Moreover, as our fiscal consolidation target, we also made it clear that we would achieve a primary balance surplus for the national and local governments by FY2025.
 
The subheading for the 2018 Basic Policy is ‘Achieving a Sustainable Growth Path by Overcoming the Declining Birthrate and Population Aging.’
 
The actual implementation of these policies is important. I ask for the assistance of all relevant ministers, including Minister Motegi, in doing so.
 
For the implementation of these policies, we will create public-private councils in the priority areas of the productivity revolution, and gather wisdom from the younger generation in the private sector as we formulate policies.
 
I hope to release a new reform work schedule by the end of the year for the Integrated Economic and Fiscal Reforms.
 
I would like to once again extend my gratitude to the council members for their significant efforts. I ask for your continued cooperation moving forward.”