Prime Minister Shinzo Abe attended the fifth Government-Labor-Management Meeting for Realizing a Positive Cycle of the Economy at the Prime Minister's Office.

During the meeting, discussion took place on government-labor-management initiatives for realizing a positive cycle of the economy.

Based on the discussion, the Prime Minister said in his address,

"Over the course of the five meetings to date, you have offered us your insights from a broad perspective on the challenges and the necessary initiatives for realizing a positive cycle of the economy. Deflation has continued for more than 15 years. Through the 'three arrows' policy, the Government has taken on the challenge of exiting this deflation. At today's Government-Labor-Management Meeting, we have received constructive opinions from both the union side and the management side. We have united as one in our desire to exit deflation by working together. 
I personally have visited and listened to the stories of those at small- and medium-sized enterprises (SMEs) and small-scale enterprises which are enthusiastic about raising wages. I got the sense that the fruits of the 'three arrows' are beginning to reach SMEs and small-scale enterprises, as well as by the people who work there. This has renewed my conviction that the path to a positive cycle that I am aiming for is not mistaken.  
I am satisfied that in today's report, we were able to reach a common understanding on:

• Ensuring that increases in corporate revenues and profits lead to wage increases and proper subcontract transaction practices;
• Realizing diverse forms of regular employment that meet the needs of each workplace, instead of permanently sticking with the dual work styles of regular and irregular employment; and
• Taking into account the perspective of promoting work-life balance, proactively holding dialogues between labor and management to realize a flexible way of working that satisfies the wishes of individuals and the business needs of companies,

and that we were able to build a firm foundation for realizing a positive cycle.
In order to realize a positive cycle of the economy as quickly as possible that is accompanied by wage increases, the Government will take bold tax system measures, as well as implement prioritized distribution of subsidies to SMEs and small-scale enterprises that increase wages, as well as take measures for improving the treatment of irregular workers.  
Whether a positive cycle of the economy will be swiftly realized depends on each stakeholder initiating new initiatives that are not bound by past actions. I would like to ask everyone to boldly put the initiatives into action. The Government will steadily confirm the achievements of everyone's initiatives and continue to make every effort to create an environment that facilitates these initiatives."