Meeting of the Council on Economic and Fiscal Policy

On October 9, 2026, Prime Minister Takaichi held the 14th meeting of the Council on Economic and Fiscal Policy in 2026 at the Prime Minister’s Office.

At the meeting, the participants discussed concrete measures to advance the Medium- to Long-Term Economic and Fiscal Plan.

Based on the discussions, the Prime Minister said as follows:

(Prime Minister Takaichi) 
Thank you very much for your hard work. 
Today, we held discussions on the “implementation of the ‘Medium- to Long-Term Economic and Fiscal Plan’ based on responsible and proactive public finances.”

Toward putting this into practice, we received proposals from the experts such as:

Ensuring consistency with economic and fiscal trajectories aimed in each “important strategy”;

“Analysis and verification” of measures in each important field and its incorporation into the budget and other programs; and

Restructuring of the “Committee for Promoting the Integrated Economic and Fiscal Reforms.”

Furthermore, regarding the “Medium- to Long-Term Economic and Fiscal Plan,” we also received recommendations such as:

Reflecting the results of verification on “policy effects and uncertainties” into “policy decisions”;

Measures to be taken if economic conditions deviate from projections; and

Ensuring a certain degree of “flexibility” in fiscal management.

Under the Takaichi Cabinet, as we flesh out the “Medium- to Long-Term Economic and Fiscal Plan” included in the “Basic Policy on Economic and Fiscal Management and Reform 2026,” we will continuously monitor “economic and fiscal conditions” and “policy effects” to make necessary revisions; and

We will present the “approach” to and “outlook” for medium- to long-term economic and fiscal management in a highly transparent and consistent manner.

I request that under the leadership of Minister Kiuchi, the relevant ministers work together to ensure consistency with the direction of the Government’s various “strategies,” while giving concrete shape to the “Plan” and proceeding with the reorganization of the promotion framework.

In conducting such deliberations, I ask you to keep in mind:

Establishment of a mechanism to promote initiatives in each important field in a coordinated manner and link multifaceted “analysis and verification” to “policy decisions”;

Establishment of a management mechanism that analyzes multiple scenarios based on different assumptions in advance and enables policy responses, such as revising revenue and expenditure, if economic conditions deviate from projections; and

Adoption of a basic approach to “economic and fiscal management” in light of “economic and fiscal conditions” and other factors, in which we prepare for various “shocks,” conduct multifaceted reviews of various indicators, and take a multi-year perspective.

Please draw on examples from other countries, and report the results to the Council on Economic and Fiscal Policy. I will end my remarks here.