[Provisional Translation]

Prime Minister Shinzo Abe held a press occasion on the FY2017 budget at the Diet.

The Prime Minister said the following,

“I have stated that the early passage of the budget is itself the most important measure for stimulating the economy. Today, the budget for the next fiscal year was passed. I would like to express my gratitude to everyone for all of their efforts.

This budget will open the path towards the future. Since this budget was passed, the employment insurance premium will be lowered from next month, which will increase the disposable income that the workforce receives. We will work to achieve wage increases for the fourth consecutive year and provide strong momentum to the positive economic cycle to hit escape velocity in order to exit deflation.

In addition, a scholarship system that does not require repayment will be launched. The system will carve a path to advancement to university or specialized vocational college for students in challenging economic circumstances, including children in child welfare facilities, if they have the desire. Children are the future of Japan. The creation of a nation in which all children have countless opportunities is the cornerstone of pioneering a future in which all citizens are dynamically engaged. Childcare supports will also be steadily provided based on this view. With the FY2017 budget, the employment conditions of childcare workers will be further improved. The Abe Cabinet’s resolve to aim for the elimination of childcare waiting lists is unwavering. By June, we will approve our next plan on the elimination of childcare waiting lists.

In the latter half of this session of the Diet, we will submit eight agricultural policy reform legislation, including those covering reforms of the National Federation of Agricultural Cooperative Associations and reforms of dairy farming. We will transform the agricultural industry into an attractive growth sector and work to raise the incomes of farmers. We also want to forge a path towards a new era of agricultural policies that enable young people to entrust their future and dreams to the agricultural industry.

We will be mindful of providing careful explanations with a sense of urgency towards the passage of these vital legislation. While unfortunately there has not been much discussion at the Diet on the points I have just mentioned, we will continue to give thorough and careful explanations to the people regarding the significance attached to the budget for the next fiscal year.”