• 
• 
• 
• 

 
On March 31, 2020, the Prime Minister held the third meeting of the Council on Economic and Fiscal Policy in 2020 at the Prime Minister’s Office.
 
During the meeting, the participants held discussions on the immediate economic and fiscal policies (with emphasis on the emergency economic measures), and the promotion of the Digital New Deal.
 
Following the discussions, the Prime Minister said,
 
“Today, we first held a discussion so as to compile economic measures.
 
The spread of the novel coronavirus (COVID-19) has reduced global economic activities, and the Japanese economy has also been significantly impacted. Our immediate priority is to prevent the spread of infections and symptoms from getting severe. Afterwards, we must return the Japanese economy to a solid growth path. To that end, we will implement strong economic and fiscal policies that are commensurate with the great magnitude of the impacts.
 
Under such premises, I recently instructed Minister of State for Economic and Fiscal Policy Nishimura to compile emergency economic measures within around one week. In addition to the 26-trillion-yen comprehensive economic measures, among others, we will formulate a new supplementary budget and fully mobilize bold fiscal, monetary and tax measures, without being constrained by past practices.
 
First and foremost, the research, development and dissemination of therapeutic medication and vaccines are key to the fundamental resolution of this issue.
 
We will accelerate such research and development immediately, giving them the highest priority. At the same time, Japan will take the lead in global efforts and contribute to the world.
 
Furthermore, as the expert members proposed, we will secure safety and peace of mind in people’s lives, by firstly protecting the employment, livelihoods, and businesses.
 
In the next phase, we will take firm steps to stimulate demand and achieve a V-shaped recovery of our economy. At the same time, we address this challenge with a resolve to turn it as a major opportunity for societal transformation.
 
With such a recognition, we held a discussion regarding the promotion of Digital New Deal. Seeing digitization and remote technologies as a catalyst for a V-shaped recovery and driving force of societal transformation, we will strongly and speedily advance the development of an environment to promote them.

In particular, amidst the situation where the public has been called to refrain from going out unless it is absolutely necessary and urgent in Tokyo and other areas, for instance, in response to the growing spread of novel coronavirus infections, telework and distance education, have become urgent issues from the perspective of maintaining the daily lives. Furthermore, it is also important to utilize online medical consultations to protect not only patients, but also the doctors and nurses working on the frontlines of the battle against coronavirus, from the risks of hospital-acquired infections.
 
With this in mind, I ask the Council for Promotion of Regulatory Reform to swiftly compile emergency response measures based on the current sense of urgency.”