Prime Minister Shinzo Abe held the seventh meeting of the Council on Economic and Fiscal Policy of 2014 at the Prime Minister's Office.
During the meeting, debate took place on “initiatives to achieve both economic revitalization and fiscal soundness,” and “intensive discussion related to monetary policy, commodity prices and other issues” (for the second time). Afterwards, a report was presented on “mid-term adjustments to the 'Choosing the Future' Committee.”
The Prime Minister said in his address,
“Some time ago, at the OECD Ministerial Council Meeting, I stated that we would simultaneously achieve economic revitalization, fiscal soundness, and social security reform. In the Basic Policies, I would like you to set out a policy for further reform from both an expenditures and revenues perspective, toward the formulation of the FY2015 budget.
In addition, a key principle of the Abe Cabinet is that Japan should continue to grow with strong competitiveness within the global economy. Building on the proposals of private sector members and discussion in this Council to date, by the end of the year I would like you to set out a direction in the Basic Policies for initiatives to realign the structure of the corporate tax rate to one that is oriented to growth.”