Prime Minister Shinzo Abe held the fourth meeting of the Council on Economic and Fiscal Policy at the Prime Minister's Office.

Discussion took place on measures toward overcoming deflation, the draft budget for FY2013, and the issues to be discussed in the Council on Economic and Fiscal Policy from now on, toward increases in employment and income.

Based on the discussion, the Prime Minister said,

"I mentioned in my policy speech that the prolonged deflation and the appreciation of the yen are shaking from their very base the foundations of trust in society that 'those who work hard shall be rewarded.' I would like to ask you to convey the importance of overcoming deflation to the people in an easy-to-understand manner.
There were many suggestions on the employment system and the fostering of human resources. In order to achieve increases in employment and income, I believe it is necessary for the government, the business community, and labor organizations to cooperate hand in hand from a big-picture perspective, beyond the level of ideas in the past, to move towards resolving the issues. Consequently, we would like to work according to the policy as follows.
The government should carry forward the regulatory reform for promoting flexible and various working styles, while also considering the best form of budget and tax system.
We expect the business community to reinforce investment in nurturing human resources, and ask for cooperation to be given to companies with improving performance for achieving income growth, through measures such as raising remuneration.
As for labor organizations, we ask for cooperation in diffusing and expanding flexible and various working styles, and coping with various needs of working people.
Based on this policy, I expect bold efforts by the government as a whole, with Minister Amari taking the lead, and by maintaining close communication with the business community and labor organizations.
In addition, I would like to hold a forum for promoting active participation by young people and women, and directly hear about the issues young people and women are facing. Based on opinions heard on such occasions, I would like to overcome various issues facing young people and women one by one.
The Council on Economic and Fiscal Policy will be held based on the issues to be discussed in the Council from now on, which were compiled by Minister Amari. I expect discussions on policies of different levels toward the compilation of Basic Policies, and would like to ask for your cooperation."