Friday, December 19, 2008

Ministerial Meeting on Economic Measures

Prime Minister Taro Aso attended a Ministerial Meeting on Economic Measures at the Prime Minister's Office and decided upon "emergency measures to defend people's daily lives" and the Fiscal 2009 Economic Outlook and Basic Stance for Economic and Fiscal Management.

In the "emergency measures to defend people's daily lives," it is stipulated that the government will respond to the current economic and financial situation, giving top priority to achieving economic recovery by the end of fiscal 2011. It has also been decided that measures will be taken in a bold manner in the form of the second supplementary budget of fiscal 2008 and the fiscal 2009 budget, so as to defend people's daily lives and the economy. These include measures to save employment; an increase in the amount of tax revenues allocated to local governments that will be used for job creation and other purposes; the creation of a reserve budget for emergency economic responses; the reforms to the tax system; the implementation of measures to counter difficulties in people's daily lives; and countermeasures on the financial markets and against cash-flow problems.

In his address, Prime Minister Aso said, "Based on these measures, we must boldly defend people's daily lives, jobs in particular, and the Japanese economy. As such, early formulation and enactment of the second supplementary budget of fiscal 2008 and the principal fiscal 2009 budget are of the utmost importance. Now that we are approaching the end of the calendar year, I hope to implement those measures that can be taken without having to wait to see the formulation of these budgets, in response to various funding problems, including those related to employment, the cash-flow of companies, and housing."

Related Link

• Ministerial Meeting on Economic Measures



Photograph of the Prime Minister delivering an address at the Ministerial Meeting on Economic Measures (2)