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On December 1, 2017, Prime Minister Shinzo Abe held the 16th 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 Policy of “Basic Principles of FY2018 Budget Formulation,” and Integrated Economic and Fiscal Reforms.

Based on the discussion, the Prime Minister said,
 
“First, we received a report on the Policy of “Basic Principles of FY2018 Budget Formulation.” Toward the formulation of the budget for next year, we will advance steady efforts to achieve fiscal soundness, while also aiming for the creation of a more focused budget, including taking the necessary budgetary measures for important policy issues, such as the revolutions on human resources development and productivity. I want the relevant ministers, including Minister Motegi and Minister Aso, to thoroughly handle these issues.

Second, we had a discussion on social security reform. A direction has been set entailing reconsidering the framework being used with the drug pricing system to promote the creation of revolutionary new pharmaceuticals, advancing remote diagnoses, and strengthening measures to secure personnel in the medical, nursing care, and childcare fields. I would like Minister Kato to steadily implement these items based on today’s discussion.

In addition, a direction has been set for the reform of the administrative and financial systems of local governments. We will further promote efficiency at administrative procedure offices strengthen third sector management reforms, and advance the effective utilization of public facilities as well as measures to deal with the aging of those facilities. I would like Minister Noda to steadily implement this based on today’s discussion.”