(Provisional Translation)

The Economic and Fiscal Policy Management
In coming few months

Statement by the Prime Minister Koizumi
Cabinet meeting on September 7, 2001


Prime Minister Junichiro Koizumi made the following statement regarding the economic and fiscal policy management in coming few months.

The current economy is assessed to face a severe condition, including the employment situation. However, instead of repeating the stereotyped economic packages, we will take following actions in order to implement structural reforms vigorously and promptly, reconfirming our determination that "without structural reforms, there would be no rejuvenation and development of our economy".

  1. The Reform Schedule is to be released in due attention paid for people to easily understand.
  2. The Front-Loaded Reform Program is to be compiled, that consists of reform measures most worthy of early formulation and implementation, including those financed by the supplementary budget.
  3. The compilation of the FY2001 supplementary budget is to be prepared.
I will clarify the details of the contents of the Front-Loaded Reform Program on September 14, after considering the discussion of the Council on Economic and Fiscal Policy. The program will be really focused in the following areas, strictly excluding the simple demand-increasing measures, including such public works projects.

  1. The institutional reform and environmental improvement for the purpose of generating new industries, challengers and employment.
  2. The measure to strengthen the safety net relating to employment and small and medium-sized companies.
  3. Highly urgent measure to accelerate structural reforms.
In view of the cabinet principle that "the government aims to limit the new government bond issues below 30 trillion yen in the FY2002 budget," the supplementary budget should not be financed by an easy increase of government bond issuance. I will take the above-mentioned attitude toward the compilation of the supplementary budget for FY2001.

Announcement by Chief Cabinet Secretary Yasuo Fukuda at the Press Conference on September 9, 2001