Tuesday, June 23, 2009

Council on Economic and Fiscal Policy (Submission of the Economic and Fiscal Reform 2009-- Reassurance, Vitality, and Responsibility)

Prime Minister Taro Aso held a meeting of the Council on Economic and Fiscal Policy at the Prime Minister's Office.

At the meeting, the Council submitted to Prime Minister Aso the Economic and Fiscal Reform 2009 -- Reassurance, Vitality, and Responsibility, or what is called Basic Policies 2009. The Economic and Fiscal Reform 2009 treats the "economic crisis" and "social crisis" in an integrated manner and identifies a path to simultaneously achieve the three goals of "reassurance, vitality, and responsibility." Additionally, it indicates "top priority issues" for "overcoming the economic crisis" and the "realization of a reassuring society," which will be addressed in a focused manner, as well as plans to undertake swift and comprehensive actions such as by establishing cross-ministerial project teams led by the Cabinet.

In closing, Prime Minister Aso said, "Efforts to realize a reassuring society, to strengthen the capacity for growth for the future, and to restore fiscal health as a long-term goal must all be advanced together in order to overcome the current economic and social crises facing Japan. Consequently, the Economic and Fiscal Reform 2009 identifies a path to realize reassurance, vitality, and responsibility. From now on, we will carry out our economic and fiscal policies based on this basic policy. As a first step and as a top priority issue, I instructed Mr. Kaoru Yosano, Minister of Finance, to compile the Guidelines for FY2010 Budget Requests, which sets out expenditure ceilings, by the end of next week or so, so that the budget will be formulated in line with the Basic Policies 2009."

The Cabinet adopted the Basic Policies 2009 during its extraordinary meeting held after this meeting.

Related Link

• Council on Economic and Fiscal Policy (Cabinet Office)