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[Provisional Translation]

Prime Minister Shinzo Abe held the first meeting in 2017 of the Council on Economic and Fiscal Policy at the Prime Minister's Office.

At the meeting, there was discussion on the medium- to long-term economic and fiscal outlook and economic revitalization, the economies of the United States and other countries, and the agenda of the Council on Economic and Fiscal Policy.

Based on the discussion, the Prime Minister said,

“First, we had a discussion on the medium- to long-term economic and fiscal outlook and economic revitalization.

We must pioneer a future in which all citizens are dynamically engaged while working to also simultaneously achieve economic revitalization, fiscal rehabilitation, and social security reform.

First and foremost, we need to quickly pass the budget for the coming fiscal year and a bill on tax system reform.

With regard to tax systems, in order to advance work style reform, we will review the spousal tax deduction, as well as the system of tax credits based on salary increases to encourage companies to raise wages. I would like to urge companies to take positive steps in this direction, such as review of spouse allowances and wage increases that are at least at the level of last year.

Second, we had a discussion on the agenda of the Council on Economic and Fiscal Policy.

From private sector members, we heard opinions on the importance of preparing for every possible risk in the global economy, contributing to the maintenance and strengthening of free trade systems, and building a robust domestic economy.

In addition, this Council raised many priority issues to be addressed in the future, including the issues of investments in human resources to prevent the entrenchment of disparities, the formation of a dynamic middle class, and the promotion of social security reform.

I request that Minister Ishihara take into account today’s discussion in compiling the agenda for the meetings of this Council during the first half of this year.”