tag:blogger.com,1999:blog-38578319147962889522024-03-06T06:16:59.532+09:00PPPC Public Policy Japan Report Blogbonhttp://www.blogger.com/profile/02062728788488597411noreply@blogger.comBlogger113125tag:blogger.com,1999:blog-3857831914796288952.post-11266936815745617252015-01-26T11:53:00.001+09:002015-01-26T11:53:39.172+09:00Likening the Government and Family Budget<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(TAKAHASHI
Yoichi, PPPC Chairman)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
Cabinet officially approved the draft budget FY 2015 on January 14. The major
papers, like always, released the articles likening the government budget to
that of a family.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">It
seems inaccurate to liken the government budget to a family. Among the economic
actors which can be divided into family, corporation and government, the family
depends on savings while the corporation’s main financial source is debts. Thus
the family’s debts are usually not as much. The government budget is closer to
that of corporation than the families’. Thus, an analogy of the government
budget to that of family may sound as if the debts are just evil. Plus, such
articles do not recognize the huge assets owned by the central government but
criticize the debts alone. As the result, the articles follow the ordinary
pattern by concluding that it is inevitable to raise the tax for reconstructing
the finance.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Why
are the press comments always on the same tone? It is because the newspaper
reporters write their comments based on the explanatory documents distributed
by the Ministry of Finance in advance. To rephrase, the reporters write the
articles upon reading cribs and hearing lectures prepared by the bureaucrats.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Among
96.3420 trillion yen of the government budget FY2015, tax revenue is 54.5250
trillion, the other incomes are 4.9540 trillion yen and the government bonds
amount to 36.8630 trillion yen. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">By
a metaphor of the budget to the family by converting a 1 trillion yen into
\100,000, the family expenditure is \9.63 million, in which a father’s income
is \5.45 million and a mother’s income is 0.5 million. The rest 3.69 million
would be the debts. Because there are few families having that much debts in
reality, readers may be astonished by the vast number of debts upon reading the
articles.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Although
the author doesn’t think it is appropriate to liken the government budget to
the family, let me speak up one thing. As a matter of fact, the recently-weakened
yen has brought about profits in the government’s foreign currency reserves:
roughly \20 trillion. A metaphor of the fact will be the following.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
mother has used financial techniques behind the father’s back and made 200
million of the secret profits. But the father doesn’t know the fact and has
lived in destitution, while the mother was smiling. Where did the 200 million
yen go?<o:p></o:p></span></div>
<br />
<div class="MsoNormal">
<br /></div>
Anonymoushttp://www.blogger.com/profile/01970069031404653598noreply@blogger.com0tag:blogger.com,1999:blog-3857831914796288952.post-61549881574063699932015-01-15T08:27:00.000+09:002015-01-15T08:27:15.284+09:00“Bedrock” Regulatory Reforms and Growth Strategy<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(HARA
Eiji, PPPC President)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Reform of “Bedrock” Regulations:
Progress and Challenges<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0mm 5.4pt 0mm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr>
<td colspan="2" style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 217.5pt;" valign="top" width="290">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Bedrock
Regulations: main issues<o:p></o:p></span></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Progress
in 2014<o:p></o:p></span></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Challenges<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td colspan="4" style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 435.1pt;" valign="top" width="580">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";"><Regulations
stumbling the “growth industry in the future”><o:p></o:p></span></div>
</td>
</tr>
<tr>
<td rowspan="2" style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.75pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Agriculture<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.75pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">JA
reform<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
<div class="MsoNormal">
<span style="font-family: "MS 明朝","serif"; mso-ascii-font-family: "Times New Roman"; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "MS 明朝"; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: "Times New Roman";">△</span><span lang="EN-US" style="font-family: "Times New Roman","serif";">:
decided course in June<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Bill
scheduled to be submitted </span><span lang="EN-US" style="font-family: Wingdings; mso-ascii-font-family: "Times New Roman"; mso-bidi-font-family: "Times New Roman"; mso-char-type: symbol; mso-hansi-font-family: "Times New Roman"; mso-symbol-font-family: Wingdings;">à</span><span lang="EN-US" style="font-family: "Times New Roman","serif";"> content yet known
(completion or adaptation?)<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.75pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Corporate
ownership of farmlands<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">--<br />
(little progress)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">No
schedule </span><span lang="EN-US" style="font-family: Wingdings; mso-ascii-font-family: "Times New Roman"; mso-bidi-font-family: "Times New Roman"; mso-char-type: symbol; mso-hansi-font-family: "Times New Roman"; mso-symbol-font-family: Wingdings;">à</span><span lang="EN-US" style="font-family: "Times New Roman","serif";"> start?<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td rowspan="2" style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.75pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Medical
Care<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.75pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Treatment
uncovered by public insurance<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
<div class="MsoNormal">
<span style="font-family: "MS 明朝","serif"; mso-ascii-font-family: "Times New Roman"; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "MS 明朝"; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: "Times New Roman";">△</span><span lang="EN-US" style="font-family: "Times New Roman","serif";">:
decided course in June<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Bill
scheduled to be submitted </span><span lang="EN-US" style="font-family: Wingdings; mso-ascii-font-family: "Times New Roman"; mso-bidi-font-family: "Times New Roman"; mso-char-type: symbol; mso-hansi-font-family: "Times New Roman"; mso-symbol-font-family: Wingdings;">à</span><span lang="EN-US" style="font-family: "Times New Roman","serif";"> content yet known
(completion or adaptation?)<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.75pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">New
medical school<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">--<br />
(little progress despite discussion since 2013)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Schedule
yet known </span><span lang="EN-US" style="font-family: Wingdings; mso-ascii-font-family: "Times New Roman"; mso-bidi-font-family: "Times New Roman"; mso-char-type: symbol; mso-hansi-font-family: "Times New Roman"; mso-symbol-font-family: Wingdings;">à</span><span lang="EN-US" style="font-family: "Times New Roman","serif";"> advancement?<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.75pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Nursery
<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.75pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Corporate
entry, equal-footing<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">--<br />
(no progress)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">No
schedule </span><span lang="EN-US" style="font-family: Wingdings; mso-ascii-font-family: "Times New Roman"; mso-bidi-font-family: "Times New Roman"; mso-char-type: symbol; mso-hansi-font-family: "Times New Roman"; mso-symbol-font-family: Wingdings;">à</span><span lang="EN-US" style="font-family: "Times New Roman","serif";"> start?<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.75pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Energy
<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.75pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Power
reform<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
<div class="MsoNormal">
<span style="font-family: "MS 明朝","serif"; mso-ascii-font-family: "Times New Roman"; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "MS 明朝"; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: "Times New Roman";">○</span><span lang="EN-US" style="font-family: "Times New Roman","serif";">:
enactment of the second-round bill<br />
(entry into power sales)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Third-round
bill scheduled to be submitted (content yet known; completion or adaptation?)<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.75pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Education<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.75pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Privately-managed
public schools<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
<div class="MsoNormal">
<span style="font-family: "MS 明朝","serif"; mso-ascii-font-family: "Times New Roman"; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "MS 明朝"; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: "Times New Roman";">△</span><span lang="EN-US" style="font-family: "Times New Roman","serif";">:
bill (NSSZ act) submitted but discarded in Diet<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Bill
to be submitted again?<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td colspan="4" style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 435.1pt;" valign="top" width="580">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";"><Cross-sectorial
regulations><o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.75pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Labor<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.75pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Working-hours
regulation<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
<div class="MsoNormal">
<span style="font-family: "MS 明朝","serif"; mso-ascii-font-family: "Times New Roman"; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "MS 明朝"; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: "Times New Roman";">△</span><span lang="EN-US" style="font-family: "Times New Roman","serif";">:
decided course in June<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Bill
scheduled to be submitted </span><span lang="EN-US" style="font-family: Wingdings; mso-ascii-font-family: "Times New Roman"; mso-bidi-font-family: "Times New Roman"; mso-char-type: symbol; mso-hansi-font-family: "Times New Roman"; mso-symbol-font-family: Wingdings;">à</span><span lang="EN-US" style="font-family: "Times New Roman","serif";"> content yet known (completion
or adaptation?)<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.75pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Foreigners<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.75pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Expansion
of working visa<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
<div class="MsoNormal">
<span style="font-family: "MS 明朝","serif"; mso-ascii-font-family: "Times New Roman"; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "MS 明朝"; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: "Times New Roman";">△</span><span lang="EN-US" style="font-family: "Times New Roman","serif";">:
bill (NSSZ act) submitted but discarded in Diet<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Bill
to be submitted again?<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.75pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Transport
Infrastructure<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.75pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Opening
infrastructure to private sector (e.g., lifting ban on road concessions)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
<div class="MsoNormal">
<span style="font-family: "MS 明朝","serif"; mso-ascii-font-family: "Times New Roman"; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "MS 明朝"; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: "Times New Roman";">△</span><span lang="EN-US" style="font-family: "Times New Roman","serif";">:
bill (NSSZ act) submitted but discarded in Diet<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Bill
to be submitted again?<o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
<div align="right" class="MsoNormal" style="text-align: right; word-break: break-all;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(chart: drafted by
PPPC)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Prime
Minister Shinzo Abe pledged in January 2014 that “over the next two years, no
vested interests will remain immune from my drill.” This direction was
maintained in the growth strategy released in June (the Japan Revitalization
Strategy Revised in 2014) and the LDP’s party line for the December 14 Lower
House election. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
most remarkable point of the Cabinet’s growth strategy, known as third arrow of
the Abenomics, is that it has the heaviest weight on reforms of the country’s
so-called “bedrock” regulations, i.e., vested interests. The past
administrations and Cabinets had released their growth strategies almost every
year in eye of supporting and guiding such industries as agriculture, health
care, environment/energy, etc., by regarding them as “growth industry in the
future.” Nonetheless, unfortunately, these industries have still remained to be
the “growth industry in the future.” The main reason is that there are full of “bedrock”
regulations in these industries which have restricted new entries or ideas and
hence kept the industries untouched.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Upon
hearing a phrase “regulatory reform”, one may recall a stereotyped image that
it “intends convenience for major companies and leaves behind the interests of
consumers or workers.” However, such a criticism does not make sense at all
from the author’s experience of having been involved with the several
regulatory reforms from inside the government, municipal government, and also
as a private sector member. Regulation almost always causes vested interests. It
is easy to think of the relationship between companies already in the industry
and restriction of new entries. It is because of such regulatory vested
interests that regulations have been maintained or sometimes even enhanced
although their necessities have been lost due to socioeconomic changes. Very
often the major companies are in the side of benefiting from such vested
interests and therefore intend to obstruct regulatory reforms.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Meanwhile,
the most disadvantageous due to such “bedrock” regulations are the general
consumers and people. This could be understood by an image that consumers and
people are deprived of additional alternatives of goods and services due to the
excessive regulations on new entries. Therefore, reforms of the “bedrock”
regulations are the inevitable way to release the “growth industry in the
future” from various restrictions and to deliver advantages to the whole economy
and society<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
Japan Revitalization Strategy Revised in 2014, under the slogan of “reforms of ’bedrock’
regulations over the next two years,” decided to start actual efforts on such “most-solid
among the bedrock” issues as the JA reform and medical treatment uncovered by
public insurance which have been discussed but untouched for decades. At the
same time, the Strategy showed determination to promote reforms by tagging the
Cabinet Office and ambitious areas (local government and private sector) by utilizing
the framework of National Strategic Special Zones when tackling the challenges
which are unapt to do uniformly throughout the country. These efforts can be
regarded as the remarkable accomplishment making differences from the past
administrations.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">In
the meantime, there are concerns whether it can really be implemented.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l0 level1 lfo1; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">1.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">There
are quite a few “bedrock” regulations unmentioned in the Japan Revitalization
Strategy Revised in 2014. One example is the provision in agriculture that “general
joint-stock companies cannot own farmlands.”<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l0 level1 lfo1; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">2.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">With
regard to the JA reform, it only decided a course to advance reforms in June. A
key to such reform is the actual drafting of the bill and specific legislative
designing. It accompanies concerns that some will take the teeth out of a bill
in its drafting process.<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l0 level1 lfo1; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">3.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">There
are more to do with the National Strategic Special Zones. While the bill
entailing additional regulatory reform measures (relaxation of residing
conditions of foreigners, lifting ban on privately-managed public schools,
etc.), in addition to the initial reform menu in 2013 (floor-area-ratio, bed
number in hospitals, etc.), was submitted to the extraordinary Diet session in
autumn, it was discarded due to the Lower House dissolution and therefore
shelved to the ordinary Diet.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">To
summarize, there was virtually no progress of “bedrock” regulatory reform
realized as legislation last year (an exception is the second-round legislation
of power system reform enacted in the ordinary Diet session). One year has already
passed since Abe’s “two years” promise in Davos, meaning there is just one year
left to realize his pledge. It requires great attentions to what extent the
Cabinet will realize reforms of the “bedrock” regulations from the ordinary
Diet session to be convened in this January.<o:p></o:p></span></div>
<br />
<div class="MsoNormal">
<br /></div>
Anonymoushttp://www.blogger.com/profile/01970069031404653598noreply@blogger.com0tag:blogger.com,1999:blog-3857831914796288952.post-74998478430472657112014-12-24T16:27:00.002+09:002014-12-24T16:27:24.297+09:00Those who do not appreciate the increased employment and decreased bankruptcy<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(TAKAHASHI
Yoichi, PPPC Chairman)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
first and second arrows of the Abenomics are just normal economic policy in the
global standard. It was easily predicted that they would cause the employment
to increase and bankruptcy to decrease, especially after the irresponsible
macroeconomic policy under the DPJ administration.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<br />
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Number of Workers (ten thousand)</span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhni9ctTLJsS1a1fcQmPprIZBoXN_rQNvdov61ohs1gyAYQFHi6EIYAaz5pD8HbzlqiYxy5pwqA9lM3Y_lJhyphenhyphenb3Vf_x7Lc7PlcXZ_1QTDZSPSw0CFacY7CnukxB3Kjd33TxeK8gmCoVIQM/s1600/141218%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93%E2%91%A0.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhni9ctTLJsS1a1fcQmPprIZBoXN_rQNvdov61ohs1gyAYQFHi6EIYAaz5pD8HbzlqiYxy5pwqA9lM3Y_lJhyphenhyphenb3Vf_x7Lc7PlcXZ_1QTDZSPSw0CFacY7CnukxB3Kjd33TxeK8gmCoVIQM/s1600/141218%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93%E2%91%A0.jpg" height="207" width="320" /></a></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";"><br /></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
number of bankruptcy had been dropping under the DPJ government, but its speed
has been accelerated since Abe gained the power (see the slant).<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="separator" style="clear: both;">
</div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Number of Bankruptcy<o:p></o:p></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEifd-qcA70wc-jZiggczKxCff60gbXZIpBm5zmg1HU16c-KARGVEHruf2UytAbXAL6QKvKTQkFLqY1flV8MIGnvWzJfc6k5ZPtnp_xWyvbqyBGriP46IR7Hp2aHdlR6mEE0WRyYmuCbK_M/s1600/141218%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93%E2%91%A1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEifd-qcA70wc-jZiggczKxCff60gbXZIpBm5zmg1HU16c-KARGVEHruf2UytAbXAL6QKvKTQkFLqY1flV8MIGnvWzJfc6k5ZPtnp_xWyvbqyBGriP46IR7Hp2aHdlR6mEE0WRyYmuCbK_M/s1600/141218%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93%E2%91%A1.jpg" height="209" width="320" /></a></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";"><br /></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">It
was so childish that DPJ opposed to the increased employment and decreased
bankruptcy, and there was no economic debate in the December 14 election. Although
many argue that the landslide victory of LDP may be attributed to
unpreparedness of the opposition parties, there is a wide gap of understanding
of the macroeconomic policy between the Abe Cabinet and DPJ. DPJ must study
more about the macroeconomic policy.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">In
the meantime, because the mass media don’t know the macroeconomic policy,
neither, they don’t know why LDP defeated DPJ all the three times in the 2012
Lower House, 2013 Upper House and the general election this time. One cannot
easily be defeated in elections as long as they managed the economy well.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Yet,
LDP was on the verge this time since it conducted the tax-hike from this year.
If the Cabinet was deciding a second tax-hike from next October, LDP would have
lost the nationwide local election next year. If that was the case, the Abe
Cabinet would have collapsed and soon be abandoned by the Ministry of Finance.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Critiques
who don’t know the economy regard the currently decreasing bankruptcy not as a
result of the Abenomics but preservation of zombie companies. Because such
critiques don’t understand the macroeconomic policy, they tend to look at the
third arrow alone. However, it takes 5 years or so to see the influence of the
third arrow visibly, so all we can do at this moment is to release as many
alternatives as possible. And the percentage of which such alternatives go successful
is 3 out of 100 or 1000.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">It
is nothing wrong to talk about importance of the third arrow, but it becomes
harmful when they speak of the decreased bankruptcy as preservation of zombie
companies. I call such critiques “sadistic liquidation debater”. This type of
debater can often be found in the management consultants, who are harmless as
long as they speak management of individual company. However, they turn to be
harmful when they start talking about the macro or industrial base. They are
ignorant and indifferent to the macro-economy, and always assume a full
employment. That’s why they don’t understand that the deflation is causing the
unemployment and bankruptcy to increase but they attribute the unemployment and
bankruptcy to laziness or individual responsibility of the workers. They
consider the reduced bankruptcy as preservation of zombie companies, and often
regard the increased employment as spoiling of the workers.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="separator" style="clear: both;">
</div>
<div class="MsoNormal">
<br /></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";"><br /></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";"><br /></span></div>
Anonymoushttp://www.blogger.com/profile/01970069031404653598noreply@blogger.com0tag:blogger.com,1999:blog-3857831914796288952.post-20025257582741488822014-12-12T16:29:00.000+09:002014-12-12T16:29:18.451+09:00Comparison of Party Platforms (2): Economic Measures, Growth Strategy <div class="MsoNormal">
<span style="font-family: 'Times New Roman', serif;">This
time, let us summarize the main parties’ policy on economic measures and growth
strategy based on the parties’ official platforms.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Liberal
Democratic Party<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US"><a href="https://special.jimin.jp/political_promise/bank/index.html"><span style="color: #0070c0; font-family: "Times New Roman","serif";">https://special.jimin.jp/political_promise/bank/index.html</span></a></span><span lang="EN-US" style="color: #0070c0; font-family: "Times New Roman","serif";"><o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Komeito<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US"><a href="http://www.komei.or.jp/campaign/shuin2014/manifesto/manifesto2014.pdf" target="_blank"><span style="color: #0070c0; font-family: "Times New Roman","serif"; mso-bidi-font-size: 10.5pt;">http://www.komei.or.jp/campaign/shuin2014/manifesto/manifesto2014.pdf</span></a></span><span lang="EN-US" style="color: #0070c0; font-family: "Times New Roman","serif";"><o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Democratic
Party of Japan<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US"><a href="http://www.dpj.or.jp/global/downloads/manifesto2014.pdf" target="_blank"><span style="color: #0070c0; font-family: "Times New Roman","serif";">http://www.dpj.or.jp/global/downloads/manifesto2014.pdf</span></a></span><span lang="EN-US" style="font-family: "Times New Roman","serif";"><o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Japan
Restoration Party<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US"><a href="https://ishinnotoh.jp/election/shugiin/201412/pdf/manifest.pdf" target="_blank"><span style="color: #0070c0; font-family: "Times New Roman","serif";">https://ishinnotoh.jp/election/shugiin/201412/pdf/manifest.pdf</span></a></span><span lang="EN-US" style="color: #0070c0; font-family: "Times New Roman","serif";"><o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Party
for Future Generations<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US"><a href="http://jisedai.jp/news/20141122.html" target="_blank"><span style="color: #0070c0; font-family: "Times New Roman","serif";">http://jisedai.jp/news/20141122.html</span></a></span><span lang="EN-US" style="color: #0070c0; font-family: "Times New Roman","serif";"><o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Japan
Communist Party<o:p></o:p></span></div>
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<span lang="EN-US"><a href="http://www.jcp.or.jp/web_policy/html/2014-sousenkyo.html" target="_blank"><span style="color: #0070c0; font-family: "Times New Roman","serif";">http://www.jcp.or.jp/web_policy/html/2014-sousenkyo.html</span></a></span><span lang="EN-US" style="color: #0070c0; font-family: "Times New Roman","serif";"><o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">1.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Economic
measures<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">LDP<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">Measures
considering the inflating fuel prices and reducing rice prices<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Specific measures to
be taken promptly (support to investment in new energy, appropriate
cost-transference of uprising cost, etc.)<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Emergent measures to
be taken promptly given the uprising fuel cost (support to highly
fuel-reliant industries such as agriculture and transport, expansion of
income insurance as safety net, etc.)<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l1 level1 lfo2; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Continuance of
reduced tax on housing loans, decreasing interest rates of loans of Housing
Support Agency, creation of residential eco-points, etc.<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">Komeito<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">Emergent
measures to stimulate recovery of individual consumption and investment in
eye of positive economic cycle<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Measures to deliver
fruits of economic growth to family, SME and local economy and to connect
corporate profits to employment and wages<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Support to low and
mid income brochures such as expansion of simple subsidy<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Support measures to
acquiring houses such as reducing housing loans <o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Reconsideration of
the green tax on vehicles<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Support to
spontaneous efforts by the local governments in cold and depopulating areas
such as provision of gasoline and kerosene to hospitals and social welfare
facilities<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Support to highly
fuel-dependent industries such as agriculture and transport and small-sized
corporations (safety net corresponding to uprising fuel cost, continuance of
discounts of highway fees, introduction and expansion of surcharge, etc.)<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Further measures
toward energy conservation and renewable energy<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Support to finance
of SMEs (safety net loans and insurance, flexible implementation of loans in
case of disaster, etc.)<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">DPJ<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">Countermeasures
to increasing fuel cost and weakening yen<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">(subsidy
targeted at SMEs, agriculture, etc.)<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">JRP<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">Economic
measures overcoming the distributive public works projects<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Expansion of reduced
tax on economical housing<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Measures on
weakening yen (reducing the gasoline tax, etc.)<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Provision of
education voucher to low income brochures<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Creation of
exemption system of gift tax subject to marriage and child-rearing money<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Welfare: temporary
subsidy to corporations which increased employment<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l7 level1 lfo4; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Promotion of the
smart community projects such as local assumption of natural energy and
co-generation<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Life support to the
needy<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">Future<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">---<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">Communist<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">Prompt
measures on the rice price<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">2.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Growth
Strategy<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">LDP<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">Further
expansion of the positive economic cycle to every community by swift
implementation of the Japan Revitalization Strategy<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l8 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Corporate tax
reform: reducing the corporate tax rate to 20s in several years<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l8 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Creation of
environment toward private-led economy: drilling the bedrock regulations in
two years and expansion of the National Strategic Special Zones<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l8 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Legal support to
real estate industry, stimulation of investment, promotion of residential
reform and used-housing industry<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l8 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Enhancement of
corporate governance<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l8 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Construction of no.1
monetary market in Asia<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l8 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Necessary measures
to be considered and taken on growth money and safety net money<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l8 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Comprehensive
measures to stimulate industrial metabolism and acceleration of ventures<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l8 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">R&D enhancement,
human resource, matching of industry-university-government, etc.<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l8 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Tourism, Cool Japan
strategy, IR<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l8 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Disaster-resilience<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l8 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Formation of
high-speed railway networks including shinkansen and linear car, container
ports, enhancement of the Haneda and Narita airports, etc.<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l8 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Local revitalization
in which local governments play the main role (decentralization reform,
correction of financial gaps, compact city, etc.)<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l8 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Local revitalization
through regulatory reform, creation of local employment and industry<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l8 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Revitalization of
agriculture emphasizing local originalities and resources<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l8 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Comprehensive support
to management of construction, transport and shipbuilding industries which
carry out the local economy<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l8 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Agriculture to be
transformed to growth industry, doubling income of farmers and villages
through deceasing production cost and expanding size, utilization of robots
and computers, branding, etc.<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 76.3pt;" valign="top" width="102">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Komeito<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 358.8pt;" valign="top" width="478">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Firm
implementation of the growth strategy<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l4 level1 lfo6; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Raising the energy
and environment (renewable energy, low CO2 society, etc.)<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l4 level1 lfo6; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Raising the health
care and nursery (innovative technology, ICT, development of robot nursery
devices, etc.)<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l4 level1 lfo6; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Aggressive
agriculture (specific export strategy, branding through 6<sup>th</sup>
industry, farmland concentration, etc.)<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l4 level1 lfo6; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Industrial
competitiveness of dairy farming, fishery and forestry<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l4 level1 lfo6; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Action plan toward
promotion of robot industry<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l4 level1 lfo6; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Vital, warm
community to be maintained through local revitalization (long-term vision on
local revitalization, local employment, transference of the central
government function, compact city, etc.)<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l4 level1 lfo6; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Support to SMEs as
carrier of energy/environment and heath care/nursery <o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l4 level1 lfo6; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Support to
succession of SMEs (matching of companies without successor and business
operators, reducing burden of gift tax and inheritance tax, etc.)<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 76.3pt;" valign="top" width="102">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">DPJ<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 358.8pt;" valign="top" width="478">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Policy
resources to be concentrated at green, life, agriculture and SMEs.<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l2 level1 lfo7; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Disposable income to
be increased through investment to people which changes anxiety to hope such
as child-rearing, employment and retirement life<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l2 level1 lfo7; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Corporate tax to be
reduced after securing alternative tax resources<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l2 level1 lfo7; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Creation of
comprehensive subsidy to local governments, decentralization reform bill to
be proposed to accelerate transference of function and budget of the central
government, simplification of procedures<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l2 level1 lfo7; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Promotion of
innovation of regenerative medicine, bio, ICT. Marine and space development<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l2 level1 lfo7; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Support to business
startup, SME support to be integrated under a newly nominated minister<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l2 level1 lfo7; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Local revitalization
and employment to be realized through renewable energy and SME support. Basic
Act on promotion of decentralized energy to be proposed. <o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l2 level1 lfo7; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Enhancement of the
life industry<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l2 level1 lfo7; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Individual
compensation to farmers to be legislated, number and income of farmers to be
increased through promotion of agriculture<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l2 level1 lfo7; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Promotion of
domestic woods, stabilization of fishery management<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l2 level1 lfo7; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Formation of compact
city, promotion of reform business of used-residents, <o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 76.3pt;" valign="top" width="102">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">JRP<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 358.8pt;" valign="top" width="478">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Thorough
competition policy to become “earning nation”<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l0 level1 lfo8; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Thorough
implementation of competition policy in all the industries<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l0 level1 lfo8; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Medical care and
social welfare to be transformed to growth strategy (standardization of medic
through utilization of big data, lifting ban of mixed diagnosis, corporate
entry, etc.)<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l0 level1 lfo8; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Agriculture to be
shifted to growth industry, JA reform, farmland act to be revised
(abolishment of rice production adjustment and promotion of rice export,
privatization and division of JA, stimulation of entry by allowing corporate
ownership of farmlands, etc.)<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l0 level1 lfo8; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Necessary
legislative measures to be taken to open the governmentally-founded
infrastructure business<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l0 level1 lfo8; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Opening of the
communication industry (complete privatization of NTT, capital division
between infrastructure and services, revision of the radio act, etc.)<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l0 level1 lfo8; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Tourism and culture
to be new money-making icons (Singapore-type integrated resort to be
realized, selection and concentration of local airports, privatization of
airport management, etc.)<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 76.3pt;" valign="top" width="102">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Future<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 358.8pt;" valign="top" width="478">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Regulatory
reform and defeating the vested interests by doshu-divided efforts<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l6 level1 lfo9; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Stimulation of entry
into the agriculture, health/nursery care and energy by overcoming the
bedrock regulations<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l6 level1 lfo9; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Shift into
least-necessary regulation/rules to sustain free and fair market while
securing the national life and health<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l6 level1 lfo9; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Construction of a capital/labor
market which distributes production resources freely and fairly, creation of
safety net which enables re-challenges<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l6 level1 lfo9; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Thorough competition
policy “from subsidy to vouchers”<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l6 level1 lfo9; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Expansion of free
trade zones<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l6 level1 lfo9; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Capital regulation
including a targeting-zone system on main currencies<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l6 level1 lfo9; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Agriculture to be
transformed to attractive, internationally-competitive industry<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 76.3pt;" valign="top" width="102">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Communist<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 358.8pt;" valign="top" width="478">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Stopping
runaway of the Abenomics: shifting to life first will recover the economics<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l3 level1 lfo10; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Tax reform which
demands certain burden on major companies<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l3 level1 lfo10; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Economic reform that
utilizes the internal reserves of major companies to increase the national
income <o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l3 level1 lfo10; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Shifting to support
measures in eye of all SMEs as the main pillar of the economy<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l3 level1 lfo10; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Agriculture to be
restored by retreating from the TPP negotiations (drastic enhancement of
price and income compensation by recognizing the agriculture as the primary
industry)<o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormal">
<br /></div>
<div align="right" class="MsoNormal" style="text-align: right; word-break: break-all;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(charts drafted by
PPPC)<o:p></o:p></span></div>
<br />Anonymoushttp://www.blogger.com/profile/01970069031404653598noreply@blogger.com0tag:blogger.com,1999:blog-3857831914796288952.post-16563261343202498182014-12-07T20:34:00.003+09:002014-12-07T20:34:53.144+09:00Comparison of Party Platforms (1): Policy on Consumption Tax and Finance<div class="MsoNormal">
<span style="font-family: 'Times New Roman', serif;">The
Lower House general election was officially announced on December 2 and the
political parties entered the ballot race. The ruling and opposition parties
will struggle over 475 seats (295 small districts, 180 proportional
representation in 11 blocs) for 12 days until December 14.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
main policy issues for the election include the continuance of the Abenomics, national
security legislation including exercising the right to collective self-defense,
resuming operation of the nuclear power plants, etc.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">This
week, let us summarize the parties’ policy on the consumption tax and financial
reconstruction which Prime Minister Abe recognizes as the top-priority issue in
the campaign.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Liberal
Democratic Party<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US"><a href="https://special.jimin.jp/political_promise/bank/index.html"><span style="color: black;">https://special.jimin.jp/political_promise/bank/index.html</span></a></span><span lang="EN-US" style="font-family: "Times New Roman","serif";"><o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Komeito<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US"><a href="http://www.komei.or.jp/campaign/shuin2014/manifesto/manifesto2014.pdf" target="_blank"><span style="color: black; mso-bidi-font-size: 10.5pt;">http://www.komei.or.jp/campaign/shuin2014/manifesto/manifesto2014.pdf</span></a></span><span lang="EN-US" style="font-family: "Times New Roman","serif";"><o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Democratic
Party of Japan<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US"><a href="http://www.dpj.or.jp/global/downloads/manifesto2014.pdf" target="_blank"><span style="color: black;">http://www.dpj.or.jp/global/downloads/manifesto2014.pdf</span></a></span><span lang="EN-US" style="font-family: "Times New Roman","serif";"><o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Japan
Restoration Party<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US"><a href="https://ishinnotoh.jp/election/shugiin/201412/pdf/manifest.pdf" target="_blank"><span style="color: black;">https://ishinnotoh.jp/election/shugiin/201412/pdf/manifest.pdf</span></a></span><span lang="EN-US" style="font-family: "Times New Roman","serif";"><o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Party
for Future Generations<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US"><a href="http://jisedai.jp/news/20141122.html" target="_blank"><span style="color: black;">http://jisedai.jp/news/20141122.html</span></a></span><span lang="EN-US" style="font-family: "Times New Roman","serif";"><o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Japan
Communist Party<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US"><a href="http://www.jcp.or.jp/web_policy/html/2014-sousenkyo.html" target="_blank"><span style="color: black;">http://www.jcp.or.jp/web_policy/html/2014-sousenkyo.html</span></a></span><span lang="EN-US" style="font-family: "Times New Roman","serif";"><o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l5 level1 lfo1; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">1.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Consumption
Tax<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0mm 5.4pt 0mm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr>
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 69.2pt;" valign="top" width="92">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">LDP<o:p></o:p></span></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 365.9pt;" valign="top" width="488">
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l6 level1 lfo2; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">To be hiked to 10%
in April 2017<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l6 level1 lfo2; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Reduced tax rate to
be introduced at the time of tax-hike after considerations on the subject
item, finance and revenue and acquiring consents of relevant actors and the
public<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l6 level1 lfo2; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">All the revenue from
the consumption tax to be spent for social security<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 69.2pt;" valign="top" width="92">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Komeito<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 365.9pt;" valign="top" width="488">
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l1 level1 lfo3; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Reduced tax rate to
be introduced at the time of tax-hike to 10% in April 2017<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l1 level1 lfo3; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Subject item,
finance and revenue of reduced tax rate to be considered<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 69.2pt;" valign="top" width="92">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">DPJ<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 365.9pt;" valign="top" width="488">
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l0 level1 lfo4; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Consumption tax-hike
to 10% to be extended (reasons include the worsened economy due to the
Abenonomics, non-execution of social security stabilization and Diet-members
cutback) <o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l0 level1 lfo4; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Consideration on
tax-exemption combined with subsidy as measures for low-income brochures <o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l0 level1 lfo4; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Revenue from
consumption tax to be limited to social security<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 69.2pt;" valign="top" width="92">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">JRP<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 365.9pt;" valign="top" width="488">
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l9 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Consumption tax-hike
to 10% to be suspended<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l9 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Opposition to
deletion of the “economy provision” that leaves room for extension of the
tax-hike<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l9 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Consumption tax to
be shifted to local tax. Setting of the rate to be delegated to the local
governments as primary tax revenue<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l9 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Tax-exemption
combined with subsidy to be realized on assumption of the “my number” system
(because of the low cost-benefit performance of reduced tax rate and all-out
subsidy)<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 69.2pt;" valign="top" width="92">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Future<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 365.9pt;" valign="top" width="488">
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l10 level1 lfo6; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Consumption tax-hike
to 10% to be extended<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l10 level1 lfo6; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Securing fairness of
the consumption tax by invoice system<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l10 level1 lfo6; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Following conditions
to be met as premise for tax-hike<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 42.0pt; mso-list: l2 level1 lfo7; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">①<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">More
transparency of finance through financial and accounting reforms<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 42.0pt; mso-list: l2 level1 lfo7; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">②<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Social
security reform such as rationalization<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 42.0pt; mso-list: l2 level1 lfo7; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">③<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Economic
and social reform to realize sustainable economic growth<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l11 level1 lfo8; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Consumption tax to
be shifted to local tax<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 69.2pt;" valign="top" width="92">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Communist<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 365.9pt;" valign="top" width="488">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Consumption
tax-hike to 10% to be suspended, ways not to depend on the consumption tax to
be groped<o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormal">
<br /></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l5 level1 lfo1; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">2.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Financial
Reconstruction<o:p></o:p></span></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0mm 5.4pt 0mm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr>
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 90.45pt;" valign="top" width="121">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">LDP<o:p></o:p></span></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 344.65pt;" valign="top" width="460">
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l11 level1 lfo8; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Simultaneous
realization of economic growth and financial reconstruction<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l11 level1 lfo8; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Primary balance to
be shifted to surplus by 2020, and financial deficit to GDP will be
accordingly decreased steadily<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l11 level1 lfo8; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Specific plans to be
decided by the next summer<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l11 level1 lfo8; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Administrative and
financial reform will be continued<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 90.45pt;" valign="top" width="121">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Komeito<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 344.65pt;" valign="top" width="460">
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l12 level1 lfo9; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Primary balance to
be shifted to surplus by 2020<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l12 level1 lfo9; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">“mid-term plan” will
be drafted for realization of the goal<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 90.45pt;" valign="top" width="121">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">DPJ<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 344.65pt;" valign="top" width="460">
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l8 level1 lfo10; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Act on promotion of
the financial healthiness to be submitted, primary balance to be shifted to
surplus by 2020<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l8 level1 lfo10; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Promotion of “appropriation
reform”, “growth strategy” and “revenue reform”<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l8 level1 lfo10; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Relooking on the distributive
public works, and steadily implementing the infrastructure works for
reconstruction or which are truly needed <o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 90.45pt;" valign="top" width="121">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">JRP<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 344.65pt;" valign="top" width="460">
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l3 level1 lfo11; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Act on Financial Responsibility
to be submitted<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l3 level1 lfo11; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Schedule toward the “primary
balance zero” premised on “appropriation reform”, “growth strategy” and “revenue
reform” to be drafted <o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l3 level1 lfo11; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Revenue to be
created through “self-cutting reforms” and “administrative reforms” <o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-para-margin-left: 0gd;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">30% cut
on the Diet expenses, Diet seats, cost cuts on the central government
personnel fees, downsizing of the independent administrative agencies and
public-private funds, disposition of government assets, integration of tax-collection
agencies into Revenue Agency, etc.<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 90.45pt;" valign="top" width="121">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Future<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 344.65pt;" valign="top" width="460">
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l4 level1 lfo12; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Act on Financial
Responsibility toward realization of public accounting reforms<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l4 level1 lfo12; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Mid- and long-term
financial plans to be drafted toward strategic financial management<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l4 level1 lfo12; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Large cutback on the
transferred appropriateness which are causing wastes and distributive budgets
and relooking on the tax<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 90.45pt;" valign="top" width="121">
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Communist<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 344.65pt;" valign="top" width="460">
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l7 level1 lfo13; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Tax reform penetrating
the principle of capability by revising the tax-exemption to the wealthy
brochures and major companies<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l7 level1 lfo13; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Appropriation on
public works projects or military expenses to be reduced<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l7 level1 lfo13; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Tax-increase to be
sought through economic reforms that increases the national income by
utilizing the financial reserves of the major companies<o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormal">
<br /></div>
<br />
<div align="right" class="MsoNormal" style="text-align: right; word-break: break-all;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(charts drafted by
PPPC)<o:p></o:p></span></div>
Anonymoushttp://www.blogger.com/profile/07462307080269275249noreply@blogger.com0tag:blogger.com,1999:blog-3857831914796288952.post-49681604526896148322014-12-02T11:56:00.003+09:002014-12-02T11:56:34.742+09:00Unreasonable Abuse by Critique<div align="left" class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(TAKAHASHI Yoichi, PPPC Chairman)<o:p></o:p></span></div>
<div align="left" class="MsoNormal">
<br /></div>
<div align="left" class="MsoNormal">
<br /></div>
<div align="left" class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">With regard to my article in <i>Gendai Business</i> on November 24 (</span><span lang="EN-US"><a href="http://gendai.ismedia.jp/articles/-/41199"><span style="font-family: "Times New Roman","serif";">http://gendai.ismedia.jp/articles/-/41199</span></a></span><span lang="EN-US" style="font-family: "Times New Roman","serif";">), Mr. Nobuo Ikeda slandered
me by saying that the graphs are groundless (</span><span lang="EN-US"><a href="http://ikedanobuo.livedoor.biz/archives/51920669.html"><span style="font-family: "Times New Roman","serif";">http://ikedanobuo.livedoor.biz/archives/51920669.html</span></a></span><span lang="EN-US" style="font-family: "Times New Roman","serif";">). <o:p></o:p></span></div>
<div align="left" class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">While the comments are already deleted
at the present, so far there is no apology to me. What an impoliteness.<o:p></o:p></span></div>
<div align="left" class="MsoNormal">
<br /></div>
<div align="left" class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Let’s confirm the numbers which
are simply calculated from the official statistics provided by the Cabinet
Office (</span><span lang="EN-US"><a href="http://www.esri.cao.go.jp/jp/sna/data/data_list/sokuhou/files/2014/qe143/gdemenuja.html"><span style="font-family: "Times New Roman","serif";">http://www.esri.cao.go.jp/jp/sna/data/data_list/sokuhou/files/2014/qe143/gdemenuja.html</span></a></span><span lang="EN-US" style="font-family: "Times New Roman","serif";">) by using the Excel. <o:p></o:p></span></div>
<div align="left" class="MsoNormal">
<br /></div>
<div align="left" class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The real GDP rate compared to the
previous quarter in the 2013 July-September to October-December, 2014
January-March which witnessed the dashing-on demands, April-June which saw its
reactionary effect and income decrease are, respectively, +2.4%, -1.6%, +6.7%,
-7.3% and -1.6% (chart)<o:p></o:p></span></div>
<div align="left" class="MsoNormal">
<br /></div>
<br />
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Real GDP Growth Rate (comparison
to the previous quarter)</span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgYQrdTxfymwxw4g47Qtyahu2O_juQZjIgt00HyzGpaI5Rp8TcIls-qrDRVwkjFtSdYxf7fKL0mTjOU98niHgAZPGrDlkYNKfgN_uBscS2OQJ5M39KUv3BLhkn6CEn7QHN_ku6H7UOFKII/s1600/141127%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93%E2%91%A0.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgYQrdTxfymwxw4g47Qtyahu2O_juQZjIgt00HyzGpaI5Rp8TcIls-qrDRVwkjFtSdYxf7fKL0mTjOU98niHgAZPGrDlkYNKfgN_uBscS2OQJ5M39KUv3BLhkn6CEn7QHN_ku6H7UOFKII/s1600/141127%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93%E2%91%A0.jpg" height="206" width="320" /></a></div>
<br />
<div align="right" class="MsoNormal" style="text-align: right;">
<span lang="EN-US">(graph drafted by PPPC)<o:p></o:p></span></div>
<o:p></o:p><br />
<div align="left" class="MsoNormal">
<br /></div>
<div align="left" class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">While the mass media looks at
these figures alone, in order to understand the trend correctly, the attention
should be paid to their ratio from the same quarter in the previous year. The
corresponding numbers would be respectively +2.5%, +2.3%, +2.9%, -0.2% and
-1.2%.<o:p></o:p></span></div>
<div align="left" class="MsoNormal">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
</div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgtf-f5QbFES_S5LQ9hvG_ne5OXNQxTz-xGFAggB-5zwmPPAIYwTzN1YuZgNAakc4wF5lwwD4G3w3tVBGCjeqiW4DtduZobEaWC9NLyzoQa2uDIbSp3ogSqjET1fcyOClQ0Cy4NtvA8owU/s1600/141127%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93%E2%91%A1.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><br /></a><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgtf-f5QbFES_S5LQ9hvG_ne5OXNQxTz-xGFAggB-5zwmPPAIYwTzN1YuZgNAakc4wF5lwwD4G3w3tVBGCjeqiW4DtduZobEaWC9NLyzoQa2uDIbSp3ogSqjET1fcyOClQ0Cy4NtvA8owU/s1600/141127%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93%E2%91%A1.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"> </a></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Real GDP Growth Rate (comparison
to the same quarter in the previous year)<o:p></o:p></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgtf-f5QbFES_S5LQ9hvG_ne5OXNQxTz-xGFAggB-5zwmPPAIYwTzN1YuZgNAakc4wF5lwwD4G3w3tVBGCjeqiW4DtduZobEaWC9NLyzoQa2uDIbSp3ogSqjET1fcyOClQ0Cy4NtvA8owU/s1600/141127%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93%E2%91%A1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgtf-f5QbFES_S5LQ9hvG_ne5OXNQxTz-xGFAggB-5zwmPPAIYwTzN1YuZgNAakc4wF5lwwD4G3w3tVBGCjeqiW4DtduZobEaWC9NLyzoQa2uDIbSp3ogSqjET1fcyOClQ0Cy4NtvA8owU/s1600/141127%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93%E2%91%A1.jpg" height="207" width="320" /></a></div>
<div class="separator" style="clear: both; text-align: center;">
<span style="font-family: 'Times New Roman', serif; text-align: right;"> (graph drafted by PPPC)</span></div>
<div align="left" class="MsoNormal">
<br /></div>
<div align="left" class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">A simple glance at the graph
reminds us of the fact that while the economy had continued to grow by more or
less 2% before this April, the economy turned to negative growth since this
April when the consumption tax rate was hiked to 8%.<o:p></o:p></span></div>
<div align="left" class="MsoNormal">
<br /></div>
<div align="left" class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Perhaps the growth rate alone doesn’t
provide enough evidence, so it would be helpful to refer to the real amount of GDP
(adjusted, calculated onto annual base) to understand the economic trend. It also
enables to calculate the hypothetical economic growth based on an assumption
that there was no tax-hike and that the economy continued the 2% of growth.<o:p></o:p></span></div>
<div align="left" class="MsoNormal">
<br /></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Effect of Consumption Tax-Hike<o:p></o:p></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhhRy7Do3mkM8hp4jtfWxH9XbGeomDmR0IGb7CTfShI5tpO1tby2IdXqEG1d41cjcGommrFyyFiavViSU2vzwHYD_33nl04julFtFeTZ4sKiFZE13LlueQMqQPel5jYxqdpd8ZAydLqiJU/s1600/141127%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93%E2%91%A2.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhhRy7Do3mkM8hp4jtfWxH9XbGeomDmR0IGb7CTfShI5tpO1tby2IdXqEG1d41cjcGommrFyyFiavViSU2vzwHYD_33nl04julFtFeTZ4sKiFZE13LlueQMqQPel5jYxqdpd8ZAydLqiJU/s1600/141127%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93%E2%91%A2.jpg" height="206" width="320" /></a></div>
<div align="right" class="MsoNormal" style="text-align: right; word-break: break-all;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(trial calculation by
the author, graph drafted by PPPC)<o:p></o:p></span></div>
<div align="left" class="MsoNormal">
<br /></div>
<div align="left" class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">It suggests that we lost 15
trillion yen of GDP due to the tax-hike. Probably the tax revenue lost by the
central and local governments would amount to some 3 trillion yen in total. It
means a worst scenario that the tax was raised, the economy deteriorated and
the revenue was lost.<o:p></o:p></span></div>
<div align="left" class="MsoNormal">
<br /></div>
<div align="left" class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">I had made the right economic
prediction, so it is just ridiculous that critiques in favor of a tax-hike,
such as Mr. Ikeda, slander me while setting aside the fact that they failed to
foresee the negative economic effects of the tax-hike and the current economic
recession.<o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">
</span></div>
<div align="left" class="MsoNormal">
<br /></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";"><br /></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";"><br /></span></div>
Anonymoushttp://www.blogger.com/profile/01970069031404653598noreply@blogger.com0tag:blogger.com,1999:blog-3857831914796288952.post-47745099678117908422014-11-14T13:51:00.000+09:002014-11-14T13:51:29.632+09:00In What Case a Tax-Hike is Acceptable?<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(TAKAHASHI
Yoichi, PPPC Chairman)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">My
prediction in the previous column (</span><span lang="EN-US"><a href="http://public-policy-japan.blogspot.jp/2014/11/experts-meeting-on-tax-hike-and.html"><span style="font-family: "Times New Roman","serif";">Experts’ Meeting on Tax-Hike and
Possibility of Snap Election</span></a></span><span lang="EN-US" style="font-family: "Times New Roman","serif";">) seems to have been right. At
the moment, many media rumor a schedule of Lower House dissolution on November
19 (<i>taian</i>) – election on December 14
(<i>tomobiki</i>).<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">It
is needless to say that Prime Minister has the exclusive authority over Lower
House dissolution, so we have to wait for Prime Minister Abe to come back from
his trip abroad. But Nagata-cho has already been busy preparing for a next
election and it seems to be difficult to hit brakes to the momentum.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">In
any case, GDP in the July-September quarter, whose first flash will be released
on November 17, will greatly attract the public attentions. Assuming that the
consumption tax rate is to be really hiked to 10 percent, how much GDP should
be attainable?<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Let’s
try some calculation. The real GDP (annual base) in the January-March and
April-June quarters in 2014 was respectively 535.0 trillion yen and 525.3
trillion yen. There was a dashing-on demand in the January-March quarter before
the tax-hike and the April-June quarter saw a decreased demand as its reactionary
effect. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">If
there wasn’t the tax-hike to 8% in this April, there should have been around 2%
of growth in both the Jan-Mar and Apr-Jun quarters compared to the previous
year. To note, both the July-September and October-December quarters in 2013
had actually witnessed 2.4% of positive growth. If that was the case, the real
GDP in the Jan-Mar and Apr-Jun quarters should have been, respectively, 531.5
trillion yen and 536 trillion yen. It means that the dashing-on demand before
the tax-hike amounted to 535 trillion (the actual rate) - 531.5 trillion
(supposed rate) = 3.5 trillion yen. The same amount would have been decreased
in the Apr-Jun quarter as its reactionary effect. Yet, more than that, the
whole GDP rate has been decreased by 7.3 trillion yen, which should be
considered as the negative economic effect of the consumption tax hike in
April.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<br />
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Dashing-on Demand and its
Reactionary Effect, Income Decrease by the Tax-Hike<o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiVTx9BZZQurASTSrLnjy4e1t4LZmvJcrLRBgQI3kSLJpXchXuJe_8MZR77XCyZ4hYiL7J7qqMO7n6XISedXHYKiqQ3xNMjFTMVWJiZaeBXsA5UvpPoSQ_GfXYdKhcxtNks2qyBby8P3Dk/s1600/141114%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="208" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiVTx9BZZQurASTSrLnjy4e1t4LZmvJcrLRBgQI3kSLJpXchXuJe_8MZR77XCyZ4hYiL7J7qqMO7n6XISedXHYKiqQ3xNMjFTMVWJiZaeBXsA5UvpPoSQ_GfXYdKhcxtNks2qyBby8P3Dk/s320/141114%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93.jpg" width="320" /></a></div>
<div align="right" class="MsoNormal" style="text-align: right; word-break: break-all;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(Chart: drafted by
PPPC)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">This
negative effect of the tax-hike should be continuing to the same extent in the
Jul-Sep quarter. The GDP should have been 538.4 trillion yen if not for the
tax-hike, but it will possibly be around 531.1 trillion yen smaller than that
by 7.3 trillion yen for the negative effect of the tax-hike. Although the rate
is still smaller than the rate which should have been gained, those in favor of
the tax-hike will likely OK the number which is +4.5% from the previous quarter.
To repeat, those in favor of the tax-hike will admit another tax-hike to 10% if
the GDP in the Jul-Sep quarter is to be announced as around +4.5%.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Of
course, such a rate is not at all permissible to the author having voiced
avoiding the tax-hike. The author cannot agree with the tax-hike unless the GDP
in the Jul-Sep quarter amounts to 538.4 trillion yen which should have been
gained if not for the tax-hike plus +2% from the same quarter in the previous
year. It is equivalent with +10% from the previous quarter.<o:p></o:p></span></div>
<div class="separator" style="clear: both; text-align: center;">
</div>
<div class="MsoNormal">
<br /></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";"><br /></span></div>
Anonymoushttp://www.blogger.com/profile/01970069031404653598noreply@blogger.com0tag:blogger.com,1999:blog-3857831914796288952.post-46968522673383610072014-11-12T17:44:00.000+09:002014-11-12T17:44:28.766+09:00Goal of “TFR 1.8%”<div align="left" class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(HARA Eiji, PPPC President)<o:p></o:p></span></div>
<div align="left" class="MsoNormal">
<br /></div>
<div align="left" class="MsoNormal">
<br /></div>
<div align="left" class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The government’s Council on
Overcoming Population Decline and Vitalizing Local Economy in Japan, composed
of 12 members, in eye of releasing its “long-term vision” and “comprehensive
strategy” in December, announced their respective outlines on November 6.<o:p></o:p></span></div>
<div align="left" class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">One of the most important issues
regarding the local revitalization is the population. One starting viewpoint of
the government is that quite a few local governments will disappear someday by
the declining population and population flow-out to urban areas as long as the
population continues to decline at the current speed. <o:p></o:p></span></div>
<div align="left" class="MsoNormal">
<br /></div>
<div align="left" class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">With regard to this point, the
outline of the “long-term vision” released this time showed the following “future
directions” to be sought.<o:p></o:p></span></div>
<div align="left" class="MsoListParagraph" style="margin-left: 21pt; text-indent: -21pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">1.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">To
hit brakes to the population-decline to secure “100 million 50 years later.” To
that end, improvements to “TFR (Total Fertility Rate) 1.8%” will be sought
(which more than half of the OECD countries have accomplished).<o:p></o:p></span></div>
<div align="left" class="MsoListParagraph" style="margin-left: 21pt; text-indent: -21pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">2.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">To
correct the over-concentration in Tokyo.<o:p></o:p></span></div>
<div align="left" class="MsoNormal">
<br /></div>
<div align="left" class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The reason behind the second
point <correct the over-concentration in Tokyo> is the government’s
perspective that the “over-concentration in Tokyo is causing the decline of
TFR.”<o:p></o:p></span></div>
<div align="left" class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">However, although it is true that
TFR in urban areas exceed that in rural areas currently, there is no
inevitability that “TFR are low in urban areas” from international comparisons.
Rather, the issue of declining population should be controllable if proper
countermeasures to the population problem are to be taken in urban areas, hence
the issue of over-concentration in Tokyo and its appropriateness should be a
different point of discussions.<o:p></o:p></span></div>
<div align="left" class="MsoNormal">
<br /></div>
<div align="left" class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The issue of “over-concentration
in Tokyo” will be discussed some other time, and this time, let’s discuss the issue
of TFR.<o:p></o:p></span></div>
<div align="left" class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Many developed countries have
accomplished more than 1.8% of TFR (France 2.01, U.K. 2.00, Sweden 1.98, U.S.
1.93 in 2010) and compared to the fact the number have improved largely in the
recent 10-20 years in France, U.K., and Sweden, it is true that Japan’s 1.4 has
a lot to be dealt with.<o:p></o:p></span></div>
<div align="left" class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(See, for example, Cabinet Office
</span><span lang="EN-US"><a href="http://www.kantei.go.jp/jp/singi/sousei/souseikaigi/dai1/sankou.pdf%20p.19"><span style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "MS ゴシック";">http://www.kantei.go.jp/jp/singi/sousei/souseikaigi/dai1/sankou.pdf</span></a></span><span lang="EN-US" style="font-family: 'Times New Roman', serif;"> p.19)</span><span lang="EN-US" style="color: #333333; font-family: "MS ゴシック";"><o:p></o:p></span></div>
<div align="left" class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "MS ゴシック";">Yet,
the problem is how to achieve that goal.<o:p></o:p></span></div>
<div align="left" class="MsoNormal">
<br /></div>
<div align="left" class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Looking at the present data;<o:p></o:p></span></div>
<div align="left" class="MsoNormal">
<br /></div>
<br />
<div align="left" class="MsoListParagraph" style="margin-left: 21pt; text-indent: -21pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">①<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">There
are no major changes in the number of children which a couple desires to have
and actually has in the recent 30-40 years.<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";"><br /></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi_uJ0ZvYBOGEVh6inMOs9bNcZEBpt57w7fDSxsKY9QEqMo5kPcZ4PrgsvrENxCJlSdh66foQnZ415-BiIlTZLI-9Pma_AXbzU_3Fyr_tIzWk-9cciCYUm7dqUorxUq0nl1KJoRjFbqKYU/s1600/14112%E5%8E%9F%E3%81%95%E3%82%93%E2%91%A0.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="185" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi_uJ0ZvYBOGEVh6inMOs9bNcZEBpt57w7fDSxsKY9QEqMo5kPcZ4PrgsvrENxCJlSdh66foQnZ415-BiIlTZLI-9Pma_AXbzU_3Fyr_tIzWk-9cciCYUm7dqUorxUq0nl1KJoRjFbqKYU/s320/14112%E5%8E%9F%E3%81%95%E3%82%93%E2%91%A0.jpg" width="320" /></a></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">(Number of average number of
children which couples desire to have and actually schedule to have<br />
Source: White Paper on Declining Number of Children 2014)<o:p></o:p></span></div>
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<br /></div>
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</div>
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<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">①<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">On
the other hand, the rate of unmarried persons in their thirtieth increased
largely from around 7% to 30% in the recent 30 years. This is the major factor
accelerating the decreasing number of children.<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";"><br /></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhZBmrvFYekR7IPsuse8Ajyj0EO2onWOW2tHrcO5vhMCbV-d7sEapGM5g5pH9PMy9Y59YcAqjZknA0RKVNRfQhVwTGEJdPSdZUvz0ACyOMxUiFEaDWG7iaGK0enZwxs-iUPre5E855kawk/s1600/141112%E5%8E%9F%E3%81%95%E3%82%93%E2%91%A1.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="220" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhZBmrvFYekR7IPsuse8Ajyj0EO2onWOW2tHrcO5vhMCbV-d7sEapGM5g5pH9PMy9Y59YcAqjZknA0RKVNRfQhVwTGEJdPSdZUvz0ACyOMxUiFEaDWG7iaGK0enZwxs-iUPre5E855kawk/s320/141112%E5%8E%9F%E3%81%95%E3%82%93%E2%91%A1.png" width="320" /></a></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">(Rate of unmarried female in ages<br />
Source: White Paper on Declining Number of Children 2014)<o:p></o:p></span></div>
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<br /></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">Based on these facts,
countermeasures to the issue of shrinking number of children should be
considered in course of solving the following two points.<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">i.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Many
couples give up having as many children as they had originally desired for
economic reasons<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";"><br /></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi3lZMhVHAky63tIQCsDcB6eObv2M5AB_VR_JzX-TAZJtsmEZpqNTQEtb7DKHLP1hyphenhyphenPivbuypiUpLq02PUkh1QyqJY95V8Lk9xdpVL69K0TKx8Lnx7xHxAbRocOqGT9OMW0tvXdVuuMvS4/s1600/141112%E5%8E%9F%E3%81%95%E3%82%93%E2%91%A2.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi3lZMhVHAky63tIQCsDcB6eObv2M5AB_VR_JzX-TAZJtsmEZpqNTQEtb7DKHLP1hyphenhyphenPivbuypiUpLq02PUkh1QyqJY95V8Lk9xdpVL69K0TKx8Lnx7xHxAbRocOqGT9OMW0tvXdVuuMvS4/s320/141112%E5%8E%9F%E3%81%95%E3%82%93%E2%91%A2.jpg" width="320" /></a></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(Reasons for not having the
number of children they had desired to; according to wife’s ages<br />
Source: White Paper on Declining Number of Children 2014)<o:p></o:p></span></div>
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<br /></div>
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<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">i.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">People
(esp. male) who cannot step into marriage for stability reasons are becoming
the main cause of declining children<o:p></o:p></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg0zIRQVxlZAgeUMtfeHfj0yS50CBVPx-Oxz_MRQEAbJOolT-G7YhsMYvtAP1GM_bQMi8bbmxJzqJg4C7eJEcev8eW80PWH0K7E3ZfeSZQIRn5Rq90lu5V9zljRmwpkizmfzHsvmJ5S6Ts/s1600/141112%E5%8E%9F%E3%81%95%E3%82%93%E2%91%A3.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg0zIRQVxlZAgeUMtfeHfj0yS50CBVPx-Oxz_MRQEAbJOolT-G7YhsMYvtAP1GM_bQMi8bbmxJzqJg4C7eJEcev8eW80PWH0K7E3ZfeSZQIRn5Rq90lu5V9zljRmwpkizmfzHsvmJ5S6Ts/s320/141112%E5%8E%9F%E3%81%95%E3%82%93%E2%91%A3.jpg" width="320" /></a></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(Reasons for not having the
number of children they had desired to; according to wife’s ages<br />
Source: White Paper on Declining Number of Children 2014)<o:p></o:p></span></div>
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<br /></div>
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<br /></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">Specifically, measures covering
such points as the following must be considered;<o:p></o:p></span></div>
<div align="left" class="MsoListParagraph" style="margin-left: 21pt; text-indent: -21pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Lowering the
child-rearing costs through expansion of allowances/supports and tax measures<o:p></o:p></span></div>
<div align="left" class="MsoListParagraph" style="margin-left: 21pt; text-indent: -21pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Improvement of the child-rearing
environment, e.g., eliminating the nursery waiting list (equal-footing of
private companies and social welfare corporations, relooking of the standard of
childcare workers, etc.)<o:p></o:p></span></div>
<div align="left" class="MsoListParagraph" style="margin-left: 21pt; text-indent: -21pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Labor reform
(improvement of the youth’s working environment by realizing the principle of
same work, same wages, building of the working environment in which one can get
back to the work after leaving the office for having birth of children, etc.)<o:p></o:p></span></div>
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<br /></div>
<div align="left" class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Especially, the efforts should
not include just the budget measures but the ones that challenge the so-called “bedrock
regulations” in the fields of nursery or labor. It will be the test whether the
“TFR 1.8%” will be no more than a flowery slogan or the serious goal to be
accomplished.<o:p></o:p></span></div>
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Anonymoushttp://www.blogger.com/profile/01970069031404653598noreply@blogger.com0tag:blogger.com,1999:blog-3857831914796288952.post-57343130965461042542014-11-02T11:14:00.001+09:002014-11-02T11:14:40.131+09:00Experts’ Meeting on Tax-Hike and Possibility of Snap Election<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-bidi-font-size: 10.5pt;">(TAKAHASHI Yoichi, PPPC Chairman)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-bidi-font-size: 10.5pt;">The Cabinet Office on October 29
announced to hold meeting with experts to discuss validity of the next
consumption tax hike to 10% scheduled in October 2015 from November 4 at the
Cabinet Office. The experts are 42 figures, around half of which were
reshuffled from the last year’s members. Still, it is predicted that many, more
or less 70%, will likely voice in favor of the tax-hike.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-bidi-font-size: 10.5pt;">The meeting are scheduled on November 4,
13, 14, 17, 18. What requires attentions is the release of GDP update in
July-Sep period scheduled on November 17. Taking the schedule into
consideration, discussions will likely flow into such a bureaucratic-prone
scenario that the experts first voice necessity of the tax-hike, then negative
effects of the past tax-hike will be confirmed by the latest GDP update, then
someone will insist urgency of economic measures to mitigate the negative
economic impacts.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-bidi-font-size: 10.5pt;">In the meantime, in the political arena,
there is a possibility of Lower House dissolution and a snap election on the
issue of whether to suspend the scheduled tax-hike alone. It is possible that
the Cabinet compiles outline of the next fiscal year’s budget by suspending the
tax-hike and calls a sudden election; lesson from the experience of the Aso
administration which was pressured into the Lower House dissolution and consequently
lost the power.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-bidi-font-size: 10.5pt;">More specifically, the schedules are
rumored to be Lower House dissolution on November 19 (<i>taian</i>: lucky day on the Japanese calendar) -> election on
December 14, one that resembles two years ago when LDP came back to power
(Lower House dissolution on November 16 -> election on December 16). After
hearing opinions of the experts until November 18, Abe calls on an election by
stating he wants to hear opinions of the national public.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-bidi-font-size: 10.5pt;">The Sundays in December and their
auspiciousness are 7 (<i>sensho</i>: <span style="color: #1a1a1a;">a day on which bold actions are supposed to turn out well),
14 (<i>tomobiki</i>: a day on which one's bad luck is thought to affect one's friends), 21 (<i>senbu</i>: a day on which it is supposed to
be better to avoid disputes and hurried actions) and 28 (<i>taian</i>). December 28 is the lucky day but it is difficult to do
elections in the year-end. Because Dec 21 is the <i>senbu, </i>December 14 will be the right day to call an election, and
by calculating back the date November 19 will be the day to dissolve the Lower
House; right after the meetings with the experts are finished.<o:p></o:p></span></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="color: #1a1a1a; font-family: "Times New Roman","serif"; mso-bidi-font-size: 10.5pt;">Another alternative is to
call a snap election in mid- or end-January by shortly extending the current
Diet session scheduled to end on November 30.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<br />
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-bidi-font-size: 10.5pt;">The recent Cabinet reshuffle was a
temporary one until the next full-scale lineup in the next year, however, the
scenario has been upset by resignation of the two female Cabinet members.
Still, thanks to the damage-control efforts, the Cabinet and ruling party
approval rate has been on the uptick, respectively 50% and 40%. So now the
possibility of a snap election has been rumored.<o:p></o:p></span></div>
Anonymoushttp://www.blogger.com/profile/01970069031404653598noreply@blogger.com0tag:blogger.com,1999:blog-3857831914796288952.post-74847419059697542182014-10-29T12:37:00.002+09:002014-10-29T12:37:22.919+09:00On the Revised Temp Labor Act<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(HARA
Eiji, PPPC President)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
Revised Temp Labor Act is becoming one of the controversial issues in the
current Diet session. The opposition Democratic Party of Japan and some media
have taken critical attitudes to the draft bill that this is an excessive “deregulation”
in accordance with requests of the business side which desires to make use of
temp workers more easily.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">However,
the content of the revised bill is, in short, a specification of the rules; one
that attempts to transfer the existing, complicated and ambiguous rules into
more clarified ones. As a matter of fact, it entails not only the “deregulating”
contents but also “reregulating” aspects.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
existing Act has divided the occupations into “26 expert types” (digital-device
operating, secretary, interpreter, etc.) and the “others”, to which having applied
different rules.<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l0 level1 lfo1; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">There is no limit of
receiving temp workers in the 26 expert types<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l0 level1 lfo1; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">There have been
one-year limit (exceptionally three-years limit) in the others<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Yet,
there have been various questions to the existing distinction that how much can
be fitted into the 26 occupations or whether the law applies when someone
engaged into undescribed jobs, etc.; all rooting from the fact that the rules have
been too unspecified and complicated. From the beginning, there has been an
outdated aspect that operation of digital device has been considered as an
expert duty.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">In
the revised bill this time, by abolishing the existing distinction of “26
expert jobs” and the “others” and it attempts to set<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l2 level1 lfo2; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Individual: maximum
three years if the same worker kept working in the same office<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l2 level1 lfo2; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Office: maximum three
years of accepting temp worker in the same office, yet, extendable after
hearing opinions of majority in the office<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Seemingly
it can be regarded as a “reasonable improvement” of existing inadequacy in the
current legislation. In the deregulation-reregulation spectrum, <o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l1 level1 lfo3; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Reception of temp
workers in the “other jobs” will be extendable with certain conditions,<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l1 level1 lfo3; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">It entails a “reregulation”
aspect in the reception of “26 expert jobs” by imposing new time limit<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">In
the current extraordinary Diet session, while the opposition lawmakers have
sought to raise the issue by repeating questions whether the temp workers will
increase by this revision of the Act (Lower House Budget Committee on October
3), such arguments might not be constructive given the content of the bill
mentioned above.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Rather,
the point of discussion should be what to do with the issue of irregular
employment as the next step to the “temporary improvement” this time.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">It
is absolutely doubtless that irregular employees are in severely unstable
situations compared to the so-called regular workers and something must be
done. The problem is how solutions are to be presented.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
first scenario is to deny irregular employments and to attempt to make all workers
regular. Many of the legislations proposed and implemented in the DPJ
administration basically originated from such perspectives.<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">However,
there are points to be raised in this scenario.<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l3 level1 lfo4; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">First, not-all
irregular workers necessarily desire to be regular employees, and there are
certain numbers of irregular workers who has chosen to be irregular employees
by themselves (according to debate on October 3, the ratio is 50% in the
government’ view and 40% in DPJ’s calculation).<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l3 level1 lfo4; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Making all irregular
workers regular sounds like an effort to improve the employment situation,
however, it may in turn deprive opportunities of many others in reality (in
extreme cases, e.g., overall banning of irregular employment might create
complete unemployment of many others because all the irregular workers cannot
be regular at once).<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Then
the more realistic approach is the second scenario that dispels gap between the
regular and irregular, i.e., penetrating the principle of “same job, same wage,”
while admitting variety of labor.<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">While
in Europe and others, the principle of “same job, same wage” is manifested in
the general legislation, it is naturally perceived that there are gaps between
irregular and regular in Japan. Efforts to solve the situation should be now
discussed.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">To
add, the gap between irregular and regular does not only exist in the private
sector, but also in the central government offices including the Ministry of
Health, Labor and Welfare which has jurisdiction over the employment policy.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">There
is an advertisement for open recruitment of irregular employees in the website
of MHLW that says \7,000-10,000/day for assistant or secretary duties. Needless
to say, this is apart from the working conditions of the general government
employees protected by job security and the National Personnel Authority (</span><span lang="EN-US"><a href="http://www.mhlw.go.jp/general/saiyo/hijoukin.html"><span style="font-family: "Times New Roman","serif";">http://www.mhlw.go.jp/general/saiyo/hijoukin.html</span></a></span><span lang="EN-US" style="font-family: "Times New Roman","serif";">).<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">What
to do with the irregular employment? Hot to attain the principle of “same job,
same wage”? Solutions must be proposed, first by the central government
ministries. <o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">It
is hopeful that discussions in eye of the drastic reform on this issue will be
made in the Diet.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">In
the meantime, there are further challenges;<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l4 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Basically, it should
seek attainment of “same job, same wage” principle and the regulations binding
various ways of working should be eradicated<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l4 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Rather than “making
all irregular regular,” it should seek “valuing various ways of working” + “prohibition
of different treatments on irregular workers”<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l4 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">“Valuing various ways
of working” is also important from the view of increasing fluidity of the labor
market. It is incorrect to assume that “all irregular desires to be regular”<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l4 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">The issue of “prohibition
of temp day laborer” left untouched.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Number
of Temp Workers = 1.3 million (data released in March 2014)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<br />
<div class="MsoNormal">
<br /></div>
Anonymoushttp://www.blogger.com/profile/01970069031404653598noreply@blogger.com0tag:blogger.com,1999:blog-3857831914796288952.post-20589289167644234442014-10-20T12:30:00.000+09:002014-10-20T12:30:15.981+09:00What is it that Promotes Economic Growth?<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(TAKAHASHI
Yoichi, PPPC Chairman)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">What
is it going to be like in 2050 if the economy shifts at the current speed?
Currently Japan’s GDP per capita is more or less $40,000, raking 20<sup>th</sup>
in the world. By definition, the “advanced country” refers to those whose GDP
per capita is more than $10,000 so Japan indeed is an advanced country.
However, the average growth rate of Japan in the recent 20 years is 0.8%, which
almost the lowest in the whole world. If the current trend continues, Japan’s
GDP per capita in 2050 will be around $50,000.<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">As
the U.S’s average growth rate is 3.6%, its GDP per capita will be $190,000 in
2050 from the current $50,000. In Euro, where the growth rate is 3.8%, its GPD
per capita will be $150,000 from the current $40,000.<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
world’s average growth rate is about 4.3%. It means a $10,000 will be
equivalent with $50,000 in 2050. At that time, Japan will no longer be an
advanced country. Though not the least developed, it will be a middle-income
country or so.<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";"><br /></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Transition of GDP per Capita
(US$)<o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(World Bank: speculation of 2050
from transition in the last 20 years)<o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj5vbZefDk4NhWOETx-o36nSI_Q3vsOen9vaazqwnrMzukoWngVyQvBaJIvUhxS56boPEOgx_zL3bDopg6Wlfuuk-FSkAFF6yim4H8zc6j4IHTNjiMHwD-CrTxp9DUq_8Q_Ua_MGhr1oXc/s1600/%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93%E5%8E%9F%E7%A8%BF%E2%91%A0.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj5vbZefDk4NhWOETx-o36nSI_Q3vsOen9vaazqwnrMzukoWngVyQvBaJIvUhxS56boPEOgx_zL3bDopg6Wlfuuk-FSkAFF6yim4H8zc6j4IHTNjiMHwD-CrTxp9DUq_8Q_Ua_MGhr1oXc/s1600/%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93%E5%8E%9F%E7%A8%BF%E2%91%A0.jpg" height="256" width="400" /></a></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Then
how do we realize an economic growth? This is the most difficult question which
if one knows its answer there will be no need of economics. Paul Krugman once
said if one can figure this out then the world’s poverty can be solved all at
once so deserving Nobel Prize. There is no simple answer to this difficult
question, but the author has started to have a partial clue.<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
following are correlation of GDP per capita and various other economic indexes.
If the correlation coefficient is low, maybe there is no interrelation. If
there are, then the cause and effect should be investigated.<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">As
result of these efforts, what attracted my attention was the influence of
money, which showed coefficient of 0.5; a little less than enough to conclude
there is correlation but outstanding compared to the others. <o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Looking
at the data of individual countries, the expansion rate of money has influence
on the growth rate with a time rag of one-two years, though its cause and
effect are yet known. Maybe it is an effect of economic growth in the past, but
we can increase or decrease supply of money through monetary policy. And it seems
quite natural that such an artificial factor could be a cause of economic
growth rate.<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Of
course this is not to say that the money-supply alone can explain economic
growth, but so far other possible elements are yet to be found. Please see the
correlation studies below.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";"><br /></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Money-Supply (horizon) and GDP
per Capita (vertical) (1994-2013)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiSNIA3wXQ3-OYeEw979wuOHelW-dpN4N5Sz4Px2C7qbyil6gNnzjgQ74zr-c6rZGKsmIbbNYO7QKH73t0Rb6-WX4D-PCLb9T2Y520IMejR7xu5OTL7FEAioy5iAGkvQuyOWc63wlbQHzk/s1600/%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93%E5%8E%9F%E7%A8%BF%E2%91%A1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiSNIA3wXQ3-OYeEw979wuOHelW-dpN4N5Sz4Px2C7qbyil6gNnzjgQ74zr-c6rZGKsmIbbNYO7QKH73t0Rb6-WX4D-PCLb9T2Y520IMejR7xu5OTL7FEAioy5iAGkvQuyOWc63wlbQHzk/s1600/%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93%E5%8E%9F%E7%A8%BF%E2%91%A1.jpg" height="260" width="400" /></a></div>
<div class="MsoNormal">
<br /></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";"><br /></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Population Increases (horizon)
and GDP per Capita (vertical) (1994-2013)<o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhHY2uG4Q5hzmhmO7s0tLJwNiMOEXqjobkU0OozPR6oXiFmXcCESWT-6V9vR09Rnc6HeoZzfvucSHsRgeRcji_zMfhpVSx_vu6LlupE5rgPQRZrxuoibJztEdhDw2W5B_ElDblQxjSj8iY/s1600/%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93%E5%8E%9F%E7%A8%BF%E2%91%A2.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhHY2uG4Q5hzmhmO7s0tLJwNiMOEXqjobkU0OozPR6oXiFmXcCESWT-6V9vR09Rnc6HeoZzfvucSHsRgeRcji_zMfhpVSx_vu6LlupE5rgPQRZrxuoibJztEdhDw2W5B_ElDblQxjSj8iY/s1600/%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93%E5%8E%9F%E7%A8%BF%E2%91%A2.jpg" height="260" width="400" /></a></div>
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<div class="MsoNormal">
<br /></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Tax Revenue Ratio to GDP
(horizon) and GDP per Capita (vertical) (1994-2013)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEioRFq0-2MYAy6TejwGnBRWf3bSxbk5043WfhBge7bqalUev2lzk0MXEz2Ki7_OMegRtJawCSwgGNK-Jxg4yCB78r36sLf1P-XDg6ShHmtP1KRHE2DnOPX_ZoX2q_tiXHk9LVeT_r7sI1w/s1600/%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93%E5%8E%9F%E7%A8%BF%E2%91%A3.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEioRFq0-2MYAy6TejwGnBRWf3bSxbk5043WfhBge7bqalUev2lzk0MXEz2Ki7_OMegRtJawCSwgGNK-Jxg4yCB78r36sLf1P-XDg6ShHmtP1KRHE2DnOPX_ZoX2q_tiXHk9LVeT_r7sI1w/s1600/%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93%E5%8E%9F%E7%A8%BF%E2%91%A3.jpg" height="260" width="400" /></a></div>
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<br /></div>
<div class="MsoNormal">
<br /></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Public Education Expense Ratio to
GDP (horizon) and GDP per Capita (1994-2013)<o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";"><br /></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjAR3vIJsJUZxZD-0RrYTxiezPgkWYDoasNrWEQ0FO-rGI9Xs7t-7wQmyQxN1HfCprGe1Xf6bzdFyIOxm9lkIVl_3WG13GjlloIvx85czEJKTbbVJA7Oihy3i6gI-fnscAhehF6_VOAHuM/s1600/%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93%E5%8E%9F%E7%A8%BF%E2%91%A4.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjAR3vIJsJUZxZD-0RrYTxiezPgkWYDoasNrWEQ0FO-rGI9Xs7t-7wQmyQxN1HfCprGe1Xf6bzdFyIOxm9lkIVl_3WG13GjlloIvx85czEJKTbbVJA7Oihy3i6gI-fnscAhehF6_VOAHuM/s1600/%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93%E5%8E%9F%E7%A8%BF%E2%91%A4.jpg" height="260" width="400" /></a></div>
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<br /></div>
<div class="MsoNormal">
<br /></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Research and Development Expense
Ratio to GDP (horizon) and GDP per Capita (1994-2013)<o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEif62n9NQOCjzzk0SESzVJ8Nnfr6niuRJv6ami0q_gg1nFjAk0fTug0DxDn924GAybGU3D-5cg9aJl9Ru3FLN_4IA9kpCWJvLFwVnuHe_8qMS6zty1eTAVLTcWzFhoQf240ByPOCER0THE/s1600/%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93%E5%8E%9F%E7%A8%BF%E2%91%A5.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEif62n9NQOCjzzk0SESzVJ8Nnfr6niuRJv6ami0q_gg1nFjAk0fTug0DxDn924GAybGU3D-5cg9aJl9Ru3FLN_4IA9kpCWJvLFwVnuHe_8qMS6zty1eTAVLTcWzFhoQf240ByPOCER0THE/s1600/%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93%E5%8E%9F%E7%A8%BF%E2%91%A5.jpg" height="258" width="400" /></a></div>
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<br /></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Higher Education Rate (horizon)
and GDP per Capita (1994-2013)<o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiV9RxkA347kTI6McuCaVs_yH0iUA_kzHDXrppQ4rkOFgos0BYWSFOHTAJxpiF2NiXYD46eeh9UWbjEL2iX5hgT3D3d0yiZILa8P4CYQ7FcCerUhr4ovVJN3iUio9h-JFrxBaCVMZPYyeY/s1600/%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93%E5%8E%9F%E7%A8%BF%E2%91%A6.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiV9RxkA347kTI6McuCaVs_yH0iUA_kzHDXrppQ4rkOFgos0BYWSFOHTAJxpiF2NiXYD46eeh9UWbjEL2iX5hgT3D3d0yiZILa8P4CYQ7FcCerUhr4ovVJN3iUio9h-JFrxBaCVMZPYyeY/s1600/%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93%E5%8E%9F%E7%A8%BF%E2%91%A6.jpg" height="260" width="400" /></a></div>
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<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<br />
<div align="right" class="MsoNormal" style="text-align: right;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(Source: from World Bank, all the
charts drafted by PPPC)<o:p></o:p></span></div>
Anonymoushttp://www.blogger.com/profile/01970069031404653598noreply@blogger.com0tag:blogger.com,1999:blog-3857831914796288952.post-4331555330900616442014-10-16T12:32:00.001+09:002014-10-16T12:32:31.927+09:00Regulatory Reforms in the National Strategic Special Zones<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(HARA
Eiji, PPPC President)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">It
was this January when Prime Minister Abe announced “to drill through the ‘bedrock
regulations’ in the National Strategic Special Zones” in Davos, which means 10
months has already passed. Given that many of the bedrock regulations are based
on laws and therefore their reforms require legislative revisions, the time
left in the current extraordinary Diet session is quite limited. It is a test
for the Cabinet to what extent it could tackle with these challenges in this
extraordinary and the next ordinary Diet sessions.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
National Strategic Special Zones Act was enacted in 2013, in which certain
deregulations were accomplished in the themes of floor-ratio regulation,
specification of employment rules (guideline and consulting center), partial
relaxations of floor-to-bed ratio in hospitals, partial reform of agricultural
committee, etc. Simultaneously, the NSSZ Advisory Council and NSSZ Regional
Committee were established as Prime Minister-led framework to break through the
regulations.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Nonetheless,
there was no addition of regulatory reform menu in the ordinary Diet session
convened in January 2014. Consequently, after the Cabinet reshuffle in
September, the additional reform menu to be proposed in this extraordinary Diet
session under the new leadership was arranged in the NSSZ Advisory Council
meeting on October 10.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
menu is as follows (details are available from the following website)<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US"><a href="http://www.kantei.go.jp/jp/singi/tiiki/kokusentoc/dai9/shiryou1.pdf" target="_blank"><span style="color: #365f91; font-family: "Times New Roman","serif"; mso-fareast-font-family: "MS ゴシック"; mso-themecolor: accent1; mso-themeshade: 191;">http://www.kantei.go.jp/jp/singi/tiiki/kokusentoc/dai9/shiryou1.pdf</span></a></span><span lang="EN-US" style="color: #365f91; font-family: "Times New Roman","serif"; mso-themecolor: accent1; mso-themeshade: 191;"><o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l1 level1 lfo1; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">1.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Improvement
and Globalization of Business Environment<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 49.6pt; mso-list: l0 level2 lfo2; mso-para-margin-left: 0gd; text-indent: -10.0mm;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">1.1<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Establishment
of one-stop center for various applications to promote corporatizing and
venture businesses including foreigners<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 49.6pt; mso-list: l0 level2 lfo2; mso-para-margin-left: 0gd; text-indent: -10.0mm;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">1.2<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Notarization
of statutes by notary outside official notary center<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 49.6pt; mso-list: l0 level2 lfo2; mso-para-margin-left: 0gd; text-indent: -10.0mm;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">1.3<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Utilization
of foreign human resources supporting housekeeping<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 49.6pt; mso-list: l0 level2 lfo2; mso-para-margin-left: 0gd; text-indent: -10.0mm;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">1.4<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Promotion
of acceptance of diverse foreigners including entrepreneurs<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 49.6pt; mso-list: l0 level2 lfo2; mso-para-margin-left: 0gd; text-indent: -10.0mm;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">1.5<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Promotion
of activities by those having the bar qualification in foreign countries<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.25pt; mso-list: l0 level1 lfo2; mso-para-margin-left: 0gd; text-indent: -21.25pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">2<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Opening
Public Infrastructures to the Private Sector<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 49.6pt; mso-list: l0 level2 lfo2; mso-para-margin-left: 0gd; text-indent: -10.0mm;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">2.1<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Opening
management of public schools to the private sector (lifting ban on privately-managed
public schools)<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 49.6pt; mso-list: l0 level2 lfo2; mso-para-margin-left: 0gd; text-indent: -10.0mm;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">2.2<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Relaxation
of human resource movement across the public-private boundary<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.25pt; mso-list: l0 level1 lfo2; mso-para-margin-left: 0gd; text-indent: -21.25pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">3<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Construction
of Sustainable Social Security<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 49.6pt; mso-list: l0 level2 lfo2; mso-para-margin-left: 0gd; text-indent: -10.0mm;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">3.1<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Revision
of qualification as chairman of medical corporations<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 49.6pt; mso-list: l0 level2 lfo2; mso-para-margin-left: 0gd; text-indent: -10.0mm;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">3.2<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Relaxation
of working hours of aged workers engaging in agriculture and others<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 49.6pt; mso-list: l0 level2 lfo2; mso-para-margin-left: 0gd; text-indent: -10.0mm;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">3.3<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Creation
of “local nurses” (tentative)<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.25pt; mso-list: l0 level1 lfo2; mso-para-margin-left: 0gd; text-indent: -21.25pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">4<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Construction
of New Model of Local Revitalization<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 49.6pt; mso-list: l0 level2 lfo2; mso-para-margin-left: 0gd; text-indent: -10.0mm;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">4.1<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Simplification
of procedures for establishing NPOs<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 49.6pt; mso-list: l0 level2 lfo2; mso-para-margin-left: 0gd; text-indent: -10.0mm;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">4.2<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Expansion
of leasing and utilization of the national forests by the private sector<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">There
was certain advancement in the fields including the longstanding challenges
such as efficient use of public infrastructures and social security experiments
along with creation of global business center (urban) and local revitalization
model (rural). <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Still,
it is not a hundred percent score given the “two years” goal. Especially, there
are yet satisfactory measures in the fields of…<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l2 level1 lfo3; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Reforms in agriculture
which can be the last card of “local revitalization” (corporate entry, etc.)<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l2 level1 lfo3; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Advancements in the
employment reform to promote further mobilization of human resources into
growing industries<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l2 level1 lfo3; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Reforms of medical
care, nursing and nursery<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">For
now, the menu arranged this time must be processed smoothly in this Diet and
further efforts in eye of the ordinary Diet session are expected.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<br />
<div class="MsoNormal">
<br /></div>
Anonymoushttp://www.blogger.com/profile/01970069031404653598noreply@blogger.com0tag:blogger.com,1999:blog-3857831914796288952.post-52627216716829214362014-10-06T12:19:00.000+09:002014-10-06T12:19:28.832+09:00Choose the Right Economists<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(TAKAHASHI
Yoichi, PPPC Chairman)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">In
Kasumigaseki, the author was one of the few natural-science-based staff studied
mathematics in college while the colleagues were dominated by those having
backgrounds in social sciences. Given that background, there are mysteries in
the world of economic policy.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">One
regular style in the natural sciences is the pattern to raise a hypothesis and
to prove it through experiments. If it is not proved in controlled
laboratories, then you attempt to prove the accuracy of your hypothesis by
citing the natural phenomena. In mathematics, needless to say, it is not
experiments but the logic that proves your hypothesis. If it is not proved, then
your hypothesis can be recognized as an error, and it could be disproved if
counterevidence were found.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">However,
in the social sciences, namely in the world of economics, while it adopts the
style to gather the past data to prove hypothesis, the theories proved by the
past data are rarely utilized in the policymaking process to make future
predictions. If one makes an economic prediction, then any outsiders would know
in the future whether the prediction was right or wrong.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Economists
or scholars do not make such forecasts in Japan, as it may become challenges to
them. But one of a few chances just came in; the consumption tax hike to 8%
from this April decided last October. This is a good opportunity to test the
ability of economists or scholars because the accumulation in the economics is already
adequate to make economic forecasts after the tax-hike.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">This
(</span><span lang="EN-US"><a href="http://www5.cao.go.jp/keizai-shimon/kaigi/special/tenken/"><span style="font-family: "Times New Roman","serif";">http://www5.cao.go.jp/keizai-shimon/kaigi/special/tenken/</span></a></span><span lang="EN-US" style="font-family: "Times New Roman","serif";">) is the list of names
of people called by the government to state their views, including Japan’s
leading economists and scholars. Most of their views were that impacts of the
tax-hike to the economy would not be damaging ones, and unfortunately, by now, they
proved to have been incorrect. The implication could be either that they only
stated their desires without using the economic theories or they do not
understand the economic theories from the first place.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">This
(</span><span lang="EN-US"><a href="http://gendai.ismedia.jp/articles/-/40156"><span style="font-family: "Times New Roman","serif";">http://gendai.ismedia.jp/articles/-/40156</span></a></span><span lang="EN-US" style="font-family: "Times New Roman","serif";">) is a list of private-sector
economic forecasters, whose forecasts are as rarely-correct as dice games. And
most of them spoke favorably to the consumption tax hike as its impact on the
economy would be small, which also proved to have been wrong.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
government released its official view that the present economic situation is
partly due to the irregular weather conditions, but it only sounds as an
ex-post excuse. In fact, there is a possibility of economic forecast models taking
into consideration the weather conditions; when the author was working in the
Ministry of Finance, I once tried to entail the average temperature in summer
to estimate the volume of consumption of beer in calculating the liquor tax
income. However, it is a matter of the single item of beer and not about the
whole macro-economy. Indeed, the weather conditions might affect fluctuation of
a specific industry but not the entire macro-economy.<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Also,
to note, the government’s traditional stance should have been the one not to
take weather conditions into consideration. This is to evade criticisms that
the government did not take countermeasures to possible disasters despite its
weather predictions.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">In
any case, this is a waste of time listening to opinions of the people who made
wrong economic forecasts last year. Nonetheless, the government schedules to
hold hearings from the people who stated their views a year ago in order to
decide another tax-hike to 10% from next October.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Listening
to opinions of the people who made error predictions, you risk making a wrong
choice once again. What is the government’s intension to hold hearings from
such people? Perhaps disobeying words of the people who made errors may result
to good consequences. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<br />
<div class="MsoNormal">
<br /></div>
Anonymoushttp://www.blogger.com/profile/01970069031404653598noreply@blogger.com0tag:blogger.com,1999:blog-3857831914796288952.post-77200081886886879212014-10-01T10:05:00.001+09:002014-10-01T10:05:23.246+09:00National Strategic Special Zones: new challenges found in meetings in September<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(HARA
Eiji, PPPC President)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">With
regard to the National Strategic Special Zones, meetings of the “Regional Committee”
were held consecutively in the “Kansai” and “Fukuoka” zones last week
(September 24, 25).<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Those
who attended the meetings include the new minister-in-charge Shigeru Ishiba, along
with the relevant governors and mayors, and the author myself as a member of
the NSSZ working group. Through the meetings, it was strongly recognized that
the framework of the regional committee itself must be enhanced. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
regional committee was created as quasi-independent mini-government in the
Zones composed of the central government (minister), local government
(mayor/governor) and private sector. The committees were launched one after the
other after selection of the six zones in spring, and entered full-dress
discussions since this June. Still, it seems that the committees haven’t
functioned in their full capacity yet.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Especially
in the Kansai zone, it was sometimes observed that representatives of the
central government, local governments and private sector haven’t shared their
views on the topics adequately and discussions fell as far apart.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">As
it was discussed in the meetings, in order to make the committees function
fully as an independent mini-government, it requires a firm, full-time
secretariat; no way that they gather once a month to hold meetings (it doesn’t
mean to establish a new bureaucratic organ but to create a common secretariat
by attracting personnel from the central or relevant local government).<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">On
a related note, it was widely reported that the Osaka City assembly rejected
proposal of NSSZ-related ordinance and suspended its project (to utilize
housing apartment to hotel businesses by allowing exceptions of the Hotel
Business Act). <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">On
this project, while it was proposed that the minimum days of staying (7-10days)
of target exceptional measures would be arranged by the ordinance, it was
questioned from the view of neighboring residents in the discussion process and
led to rejection of the ordinance. As the result, the NSSZ-relevant project itself
was suspended. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Set
aside the political situation of Osaka City that any proposals by the mayor
besides the NSSZ-related ordinance face difficulties passing the assembly, the
issue relates with the essential nature of the NSSZ design.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
NSSZ is designed as a framework to implement regulatory reform measures experimentally
in the local boundary, and the reform measures are to be provided in the NSSZ
Act as reform menu; and in each zones the central government, local government
and private sector implement the reforms altogether.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
incident in Osaka means that a local government denied the regulatory reform
menu discussed and approved in the national Diet. However, such a situation
that assemblies of the central and local governments respectively discusses the
regulatory reform menus one after another may contradict with the goal of the
NSSZ to implement regulatory reform experiments in a speedy manner.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">While
enhancing the framework of the regional committee, roles of the national Diet,
local government and regional committees need to be further clarified in line
with the purpose and aim of the NSSZ.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">In
the autumn’s extraordinary Diet session, it is scheduled that a revised NSSZ
Act will be submitted to arrange the additional regulatory-reform menu (foreign
worker’s visa, privately-managed public schools, etc., which were entailed in
the revised growth strategy in June). Meanwhile, the NSSZ faces the challenge
of enhancing the framework of the regional committees to realize effective
regulatory reforms.<o:p></o:p></span></div>
<br />
<div class="MsoNormal">
<br /></div>
Anonymoushttp://www.blogger.com/profile/01970069031404653598noreply@blogger.com0tag:blogger.com,1999:blog-3857831914796288952.post-6130740460421132622014-09-19T19:28:00.003+09:002014-09-19T19:28:22.736+09:00Scotland’s Independence<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(TAKAHASHI
Yoichi, PPPC President)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Media
are full of reports regarding the referendum on Scotland’s independence. BBC is
full of the news in eye of the voting on September 18.<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Polls
suggest the results would be too close to call.<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">There
was a similar referendum in Quebec in Canada in 1995. At that time, while “yes”
side exceeded in the prior census survey, “no” side finally gained the victory.
This time, there is an optimistic view that Scotland finally stays for suggestions
of Queen Elizabeth or Prime Minister Cameron. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">What
is the United Kingdom, from the first place? The U.K. is composed of England,
Whales, Scotland and Northern Ireland, which respectively sends the national
team to the World Cup soccer games. While I was staying in U.K. during the
World Cup, my friends told me not to call the national team as “British” in
Scotland, given the team was England.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
national flag symbolizes the complicated history of the commonwealth. England’s
mark is the red cross on white background, Scotland is white cross on blue, and
Ireland is red cross on white, which all comprises the Union Jack. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
reason I pay attention to the Scotland issue is from the perspective of
decentralization. According to the decentralization theory in the economics,
decentralization is superior to centralized regime in terms of efficiency just
like the market mechanism is basically superior to bureaucratic allocation of
resources. Yet, even in this case, it is premised that the central government
engages in the national defense, financial and monetary policy.<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">From
such perspectives, it consequently leads to the principle of “near is better”
that the private sector does what it can, and the government takes the
leftovers, and that the local governments do what they can and the central
government takes the rest. However, looking at the true state of U.K., while it
could be said that the private sector is doing what it can, the central
government is dominant within the central-local demarcation.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
U.K. is a uniquely centralized country in the international standard. It is a
surprising fact given that the other Anglo-Saxon countries are having much more
decentralized regimes. True, there are little local assembly or local taxes in
the U.K. Because there is no local tax, there is no need for local assembly to
decide local taxes. Most local governments are managed by allowance from the
central government.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Recently,
the Blaire administration started the decentralization moves by first
establishing local assemblies in Scotland, Whales and Northern Ireland,</span><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-bidi-font-size: 10.5pt;">
which reinvigorated Scottish independence. Main independence supporters are
young citizens and poor residents. Frustrations of the weak are turning to the
independence campaign, seemingly.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-bidi-font-size: 10.5pt;">The present situation is, it seems to
me, that the central government had forcibly pressured voices for
decentralization reform for long, and its outcome was the poor management of
the local economies, hence the people’s frustration unmasked as the current independence
movement. However, administrative infrastructure is not prepared as the state
has long been centralized. Virtually no local tax exists in Scotland and the
local finance depends almost exclusively on allowances from the central
government. It is also guessed that the Scottish bonds owe to the central
government. Therefore, once Scotland becomes an sovereign state, existing loans
from the central government will likely be exchanged with the existing bonds that
the current central government has. It means that new loans will be imposed to
the new state which has little financial resources from the beginning. The new
Scotland will face the risk of financial crisis as soon as it gains
independency.<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-bidi-font-size: 10.5pt;">The new Scottish government will no
longer receive supports from the central government. Leaders of the
independence campaign will seek the North Sea oil as alternative financial
sources, but the North Sea oil is declining itself, so financial management of
the new state will not be easy. Also it has nuclear facilities in its
territory.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Independence
also means that a new government must issue its own currency. British pound is
a legally-based currency in England and Whales issued by England Bank, and legally
speaking there are rooms for Scotland Bank and others to issue new currency. However,
there is no know-how of monetary policy in Scotland. Henceforth, the “yes” side
insists an easygoing idea of currency treaty centered on England Bank. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<br />
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">To
avoid possible troublesome conflicts such as above, many capitals may evacuate
from Scotland, or even from the entire U.K. Scotland’s independence will cause the
conservatives in the U.K. to take advantage in the country, which might lead
the British society to lean nationalistic, and even the government to retreat
from E.U. Only vicious circles can be predicted on its way.<o:p></o:p></span></div>
Anonymoushttp://www.blogger.com/profile/01970069031404653598noreply@blogger.com0tag:blogger.com,1999:blog-3857831914796288952.post-3296431027177764022014-09-05T16:55:00.001+09:002014-09-05T16:55:14.705+09:00Purpose of the Cabinet Reshuffle<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(TAKAHASHI
Yoichi, PPPC Chairman)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Many
would call Abe’s new Cabinet as “tax-hike Cabinet.” Indeed, Prime Minister Abe
retained Finance Minister Aso and tapped Justice Minister Tanigaki, LDP president
at the time of trilateral agreement which decided to raise the consumption tax
rate, for LDP secretary-general: a political maneuvering to suppress anti-tax-hike
discussions. Tanigaki said in a press conference that the rails are built.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Such
views are halfway correct, but the purpose of the Cabinet reshuffle this time
seems to be a preparation for a long-term administration and the government
should be elaborating measures in eye of economic recovery and growth.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
consumption tax hike is not a choice as economic policy, as repeated many
times, but it is politically difficult to topple the idea entirely (it may case
anti-Abe campaigns).<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">In
fact, there was a possibility of general election while postponing the tax-hike
within the year if Shigeru Ishiba was replaced from all the Cabinet or LDP executive
posts and runs for LDP’s leadership race against Abe next year. But Ishiba
finally assumed a new Cabinet post aimed at boosting the regional economies
(minister not handling personnel of the bureaucrats: often regarded as one-rank
lower than other ministers) so Abe does not need to do political gambles any
more. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Then,
what are possible consequences of the political gambling of tax-hike suspension?<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">LDP
lawmakers have long wanted a tax-hike while they were expelled from the power,
and any moves against the tax-hike would confuse them. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
central government officials in charge of budget including the Ministry of
Finance will be confused, too. As they already submitted the budget requests
premised on a tax-hike, if the tax-hike is suspended they must compile the
budget plan once again from the scratch. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Local
governments will be frustrated, too. As expectations for distributive policy
are increased due to the new position of local revitalization minister, any
suspension of tax-hike will disappoint the local government officials. Moreover,
it will deprive the new minister Ishiba of his jobs and therefore will likely
drive him to stand against Abe once again.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
economic world will be disappointed as well, because the consumption tax hike
is always discussed in combination with a corporate tax reduction. Suspension of
tax-hike means postponement of corporate tax reduction.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
newspaper companies will also be confused, as they have suggested that
newspaper be subject of reduced tax-rates to the MoF, premised on a scheduled
tax-hike. If the tax-hike is suspended, automatically the discussion on reduced
tax rates will disappear, which will inevitably damage managements of the
newspaper companies which are already suffering from the decreasing sales.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Looking
at these political risks above, there seems to be no reason for Abe to challenge
the gamble after having put down his political rival Ishiba.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Given
that the politics is a matter of how much political capital should be allocated
to where, any pessimistic discussions like social security will be handled in
the LDP side led by Tanigaki. On the other hand, as the economy will likely
turn downward due to the tax-hike, the Cabinet side led by Abe will have free
hands on the economic measures in large scales. Abe Cabinet will probably
announce monetary relaxation and economic stimulus at some point.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">It
could be said that the reshuffled Cabinet is well organized to settle down the
urgent challenges for the moment such as the tax-hike, TPP talks and national
security. Yet, it seems to be unfitted to battle the general election, with exception
of some fresh faces like the new industry minister Yuko Obuchi. Perhaps the new
Cabinet is of a short-relief role, with some expectation for long-term
administration. It is a big test for each minister to appoint whom to the
newly-established position of Advisor to the Minister, including from the
private sector.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<br />
<div class="MsoNormal">
<br /></div>
Anonymoushttp://www.blogger.com/profile/01970069031404653598noreply@blogger.com0tag:blogger.com,1999:blog-3857831914796288952.post-21983620046620740122014-08-31T20:14:00.000+09:002014-08-31T20:14:32.342+09:00Economic Policy Challenges after this autumn<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(HARA
Eiji, PPPC President)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">While
the media are full of reports regarding the Cabinet reshuffle, the more
important question is what kind of challenges will a new Cabinet will cope
with.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Prime
Minister Abe’s intension seems to be going back to the economic policy in this
autumn while setting aside national security legislation until the next
ordinary Diet session.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">There
are a bunch of challenges in economic policy. The revised growth strategy
released in this June announced basic ideas in corporate tax reduction, GPIF, JA
reform, etc., which caused applausive reactions by the media. It indeed stepped
into particulars compared to the last year’s edition which merely entailed general
remarks, however, specific rates of corporate tax are to be discussed hereafter.
Likewise, regarding the JA reform, which is only a part of tasks in Japan’s
agriculture, any specific plans are to be discussed in the future; for example,
the strategy did not touch upon the longstanding goal of private company’s
entry into agriculture. In short, the revised growth strategy in June is still
immature both in terms of completeness in individual policy area and inclusiveness
as a whole, and its sequence simply depends on future efforts to expand and
deepen the discussions.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Meanwhile,
some government officials say this autumn’s most urgent political task is the
local revitalization. Needless to say, it is important to deliver the positive
results of Abenomics to every local economy. Yet, there indeed is a possibility
that the politics gets back to the traditional, budget-allocative style under
the slogan of “local revitalization” while leaving behind such demanding
challenges as regulatory reforms or tax reforms.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">So,
let us note below a list of economic policy challenges the Cabinet should tackle
after this autumn.<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";"> <o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l6 level1 lfo1; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">1.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Tax<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l4 level1 lfo2; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">What do with the
consumption tax (hike to 10%)<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l4 level1 lfo2; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Tax rate of corporate
tax reduction<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l4 level1 lfo2; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Others (expansion of
tax measures on contribution, women’s promotion, tax imposition on assets,
etc.)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l6 level1 lfo1; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">2.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Regulatory
reforms<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l7 level1 lfo3; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Employment, foreigners<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l7 level1 lfo3; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Agriculture, forestry,
fishery<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l7 level1 lfo3; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Medical care, nursing
care, nursery school<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l7 level1 lfo3; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Education<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l7 level1 lfo3; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Infrastructure
(transport, water, energy, etc.)<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l7 level1 lfo3; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">IT<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l7 level1 lfo3; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">IR<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l6 level1 lfo1; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">3.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Framework
on companies and others<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l2 level1 lfo4; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Enhancement on
corporate governance (regulation on mutual-funding, etc.)<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l2 level1 lfo4; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">GPIF reform<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l2 level1 lfo4; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Relooking on bankruptcy
legislation<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l2 level1 lfo4; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Relooking on
monetary-supervision administration<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l2 level1 lfo4; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Relooking on support
policy to mid- and small-sized enterprises<o:p></o:p></span></div>
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<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l6 level1 lfo1; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">4.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Utilization
of infrastructure, private entry into governmentally-undertaken business<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l0 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Airport, road, water<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l0 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Privately-managed
public school<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l0 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">National forest,
fishery license, radio license, etc.<o:p></o:p></span></div>
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<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l6 level1 lfo1; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">5.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Energy
policy<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l1 level1 lfo6; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Electricity reform,
gas reform<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l1 level1 lfo6; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Reconstruction of
energy strategy including nuclear power<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">6.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Social
security reform<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l5 level1 lfo7; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Effective delivery of
medical care, nursery care and nursing services (overlapping with regulatory
reform)<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l5 level1 lfo7; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Relooking toward
sustainable delivery<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">7.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">National
Strategic Special Zones, decentralization<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l3 level1 lfo8; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Local experiments to
advance efforts in the fields listed above (NSSZ)<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l3 level1 lfo8; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">(in eye of) transference
of authority and tax/financial source to local governments<o:p></o:p></span></div>
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Anonymoushttp://www.blogger.com/profile/01970069031404653598noreply@blogger.com0tag:blogger.com,1999:blog-3857831914796288952.post-16463165902920775442014-08-25T15:58:00.000+09:002014-08-25T15:58:57.383+09:00When MOF Started Seeking Tax-Hike?<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(TAKAHASHI
Yoichi, PPPC Chairman)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Although
the Ministry of Finance has devoted to its tax-hike policy currently, the
ministry was not necessarily so when I was working. Financial reconstruction
was the main policy of the MoF, needless to say, but the means for that aim was
economic growth.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Coincidentally
I found Ms. Mariko Fujii’s article “transition of national bond control policy
in U.K.: 1694-1970” through the internet (</span><span lang="EN-US"><span style="color: windowtext; font-family: "Times New Roman","serif";"><a href="http://www.jsri.or.jp/publish/research/45/45_04.html">http://www.jsri.or.jp/publish/research/45/45_04.html</a></span></span><span lang="EN-US" style="font-family: "Times New Roman","serif";"><a href="http://www.jsri.or.jp/publish/research/45/45_04.html"> </a>). This article originates
from an internal document jointly drafted by Ms. Fujii, former MoF career
bureaucrat, and myself 30 years ago. Although Ms. Fujiii is a pro-tax-hike
critic now, the article was written in a slightly different tone, saying that
the British experience of financial reconstruction was “fundamentally enabled
by natural increase of tax revenue having the economic growth and increase of
national wealth as its background.” At that time, we briefed the document in
front of the MoF executive officials and concluded that economic growth is the
way for financial reconstruction.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">I
happened to have the original document in my hand. Because the original
document has as many as 150 pages, let me summarize the paper in the following.<o:p></o:p></span></div>
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<u><span lang="EN-US" style="font-family: "Times New Roman","serif";">History
of Government Bonds in U.K.<o:p></o:p></span></u></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l0 level1 lfo1; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">1.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">This
report outlines the history of public bonds in the U.K. by dividing it into 1)
pre-1950s and 2) post-1950s periods in an effort to discuss factors and methods
to decrease the public burden in the U.K. Although the history of U.K.
government bonds can be traced back to as early as mid-17<sup>th</sup> century,
it displays different aspects between pre-WWII period when the bonds were
mainly issued for war expenditures and post-1972 period when the bonds were
massively issued caused by financial deficits.<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l0 level1 lfo1; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">2.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">The
government bonds until the WWII were issued mainly for the purpose of financing
the war expenditures. In other words, financial balance or a little surplus was
premised during the peacetime. While the budget was once expanded during the
WWI, it shrunk back after the war and therefore avoided financial deficits. It
could be said that there was a “night-watchman state” view in the background at
that time.<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-para-margin-left: 0gd;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Expenditure items
started to diversify from the end-19<sup>th</sup> century and early-20<sup>th</sup>
century as social service such as education and social security expanded, and
it speeded up after WWI and WWII. The financial size did not shrink back to the
pre-war standards, which Peacock and Wiseman called “displacement effect.”
However, in both the periods, 1) high-burden structure was maintained in due to
the wartime tax-hike in the revenue, and 2) there were decreases of defense
expenses in the expenditure, hence it didn’t lead to financial deficits despite
the expansion of such social services. Therefore, even in the 20<sup>th</sup>
century until 1970s the budget was normally maintained in balance during the
peacetime and reasons for issuing government bonds were limited to Boer war in
the 19<sup>th</sup> century and the two world wars.<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l0 level1 lfo1; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">3.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">From
the 18<sup>th</sup> to early-19<sup>th</sup> century, the government bonds
showed increases during the several wartimes, and it amounted to as high as 844
million pounds (*2.9 to national income) in 1818 after Napoleon War
(1795-1815). But the deficit gradually decreased toward end-19<sup>th</sup>
century to 635 million pounds in 1898 (*0.39 to NI), and it again showed drastic
increases due to the two world wars in the 20<sup>th</sup> century. The
financial deficit in 1922 was 7.813 billion pounds (*2.03 to NI) and it
amounted to 2.5771 billion pounds in 1946 (*2.55 to GNP). <o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-para-margin-left: 0gd;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">In the history above, while
the late-19<sup>th</sup> century (UK’s Golden Age) could be noted as the only
period when the deficits showed persistent decreases, it was enabled by 1)
natural increase of tax revenues backed by economic growth and expansion of
national wealth, 2) economic contribution from colonies, 3) systematic
redemption by partial-payment foundation and terminable pension and other
factors. Note that other experiments of partial-payment foundation (1716-1788
Walpole, 1786-1828 Pitt) did not mark successful achievements.<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-para-margin-left: 0gd;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The primary reason for
the smooth reduction of financial deficits during the 19<sup>th</sup> century
can be found in a high economic growth during the time.<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l0 level1 lfo1; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">4.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">After
the WWII saw aggressive utilization of the financial resources in efforts to
achieve firm establishment of social security or perfect employment, though,
the speed of deficit-expansion stayed in a low speed as the high-burden
structure since the wartime was basically maintained; the financial deficit
increased in a low pace of 1.6%/year during 1946-1971. Also the ratio of
financial deficits to GNP decreased largely from 2.55 to 0.62 because of the
high rate of economic growth at the time.<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l0 level1 lfo1; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">5.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">The
U.K. entered a new phase in its history of government bonds in the 1970s. The
financial balance kept in the postwar period was finally broken after 1972 and
the U.K got to have lots of financial deficits among other countries in the
global economic recession. The candidate background behind the fact can be 1)
tax reduction since 1971-1975 implemented as an economic stimulus, 2) increase
in expenditures centered on social security under the Labor Cabinet in
1974-1975, 3) increased loans to nationally-owned industries, etc.<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-para-margin-left: 0gd;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">There were attempts to
cutback expenditures in the late 1970s, and the Thatcher administration since
1979 tried to further reduce expenditures in the budget-making process to get
rid of the financial deficits. However, they could not succeed in overcoming
the deficits and the government has continued to issue massive government bonds
thereafter. For that reason, the government debts skyrocketed from 35.8399
billion pounds in 1971 to 113.036 billion pounds in 1980 by 13.6% every year.<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-para-margin-left: 0gd;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Meanwhile, the ratio
to GNP has dropped from 0.62 (1971) to 0.50 (1980). This is probably because
the nominal growth rate was higher because of inflation, rather than for
economic growth.<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l0 level1 lfo1; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">6.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">With
regard to refinance policy, because most of the debts were eternal bonds before
the WWII, low-interest refinanced loan was given important weights as means to
lower burdens. Also during the wartime, because most of the bonds were issued
at short-term, they were often refinanced as long-term loans after the war.
However, it seems that the main attitude of the postwar bonds control policy has
shifted its weight from the conventional “refinance as low-interest, long-term”
orientation to “maintaining the market that maximizes ambitions of domestic and
foreign investors to invest in the government bonds.”<o:p></o:p></span></div>
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Anonymoushttp://www.blogger.com/profile/01970069031404653598noreply@blogger.com0tag:blogger.com,1999:blog-3857831914796288952.post-41812416367554920772014-08-10T21:29:00.001+09:002014-08-10T21:29:04.398+09:00Internet Sales of Medicines and Real Estates<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(HARA
Eiji, PPPC President)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">While
it is commonly said that the banning on internet sales of medicines has been
lifted since this June as result of discussions for the past several years, as
a matter of fact, it was far from “lifting” the ban. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l0 level1 lfo1; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Although Prime
Minister Abe had announced an entire liberalization of internet sales of
general medicines at the beginning, the banning on sales of 28 items recently
switched from prescription medicines has been maintained. <o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l0 level1 lfo1; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Further, while it was
not reported widely, the banning on internet sales of prescription medicines has
remained untouched.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">While
the government’s explanation is a “high risk of using internet,” there seems to
be no clear background on such an explanation.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l4 level1 lfo2; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">It is indeed necessary
to confirm customer’s anamnesis or possible side effects upon purchasing
high-risk medicines. Still, the internet should be more apt to confirm plural
checking points than over-the-counter. <o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l4 level1 lfo2; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">While there is such a
discussion as “it is important that pharmacists make judgment by using the five
senses through face-to-face sales” (message of subcommittee chairman Igarashi
read in a meeting of the Industrial Competitiveness Council on Oct 29, 2013),
it is unknown what kind of judgments are to be made as result of exercising the
five senses.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">After
all, it was nothing but preservation of interests of traditional pharmacies
under the nominal reasoning of safety control.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">And
now, similar discussions are going on with internet sales of real estates.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
focal point of discussions has been the “explanation on important matters”
based on the Real Estate Business Law.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Under
the current framework, it is provided that <o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l1 level1 lfo3; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">An officer-in-charge
must give face-to-face explanations on the important points in the contracts.<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l1 level1 lfo3; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">And documents must be
handed on that occasion (e-mail not admitted).<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">It
means that any explanations through internet cannot be accepted.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Readers
may think that “there should be small needs for internet in real estate
dealings because people usually do on-site checks on the properties,” but it is
not always the case.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">For
example, there are quite a few needs for processing such procedures as
receiving explanations on the important points in the distance afterward even
though they actually went to see the candidate housings in case of short-notice
transfers of timeless business persons.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Also,
even in the case of short-distance moving, there are needs for internet
explanations for such reasons as “please explain it via videophone because we
want to share it in family,” or “we prefer answers by e-mail rather than
over-the-counter in order to keep record.”<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">However,
the current legal framework declines such voices and states that explanations
on important points must accompany “face-to-face” processes.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">According
to voices that such regulation should be relooked, discussions started in the
Ministry of Land, Infrastructure, Transport and Tourism in its study group
since April 2014.<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US"><a href="http://www.mlit.go.jp/totikensangyo/const/sosei_const_tk3_000092.html"><span style="font-family: "Times New Roman","serif";">http://www.mlit.go.jp/totikensangyo/const/sosei_const_tk3_000092.html</span></a></span><span lang="EN-US" style="font-family: "Times New Roman","serif";"> <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Nonetheless,
looking at the minutes of the meetings, there are quite many opinions opposed
to internet sales for the following reasons.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l3 level1 lfo4; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Because people tend to
look down (to read the documents) in case of videophone, it becomes difficult to
estimate the extent of understanding by reading the customers’ faces.<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l3 level1 lfo4; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Because the picture of
videophone is not necessarily clear, ID duplication of officer-in-charge of
real estate business cannot be prevented.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Here,
let’s give it a little consideration.<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l2 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">People equally tend to
“look down” in an over-the-counter dealing as well,<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l2 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Because many people
haven’t looked at the ID cards of officers in the first place, there is likely
the case that we wouldn’t notice whether the ID is duplicated (countermeasures
to duplication or imposture should be taken through different channels).<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Doesn’t
it sound like the discussion of “using the five senses…” at the time of
medicines?<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">At
present, the government is soliciting public comments on the study group’s
“interim report” (until August 22). But unfortunately, it seems that the
discussion is heading to a partial lifting of the banning on internet dealing
of real estates in accordance with the cautious opinions mentioned above (for
example, admission of remote contract of renting, etc.). <o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US"><a href="http://www.mlit.go.jp/common/001048355.pdf"><span style="color: black; font-family: "Times New Roman","serif"; mso-fareast-font-family: "MS ゴシック"; mso-fareast-theme-font: major-fareast;">http://www.mlit.go.jp/common/001048355.pdf</span></a></span><span lang="EN-US" style="color: #333333; font-family: "Times New Roman","serif"; mso-fareast-font-family: "MS ゴシック"; mso-fareast-theme-font: major-fareast;"> </span><b><span lang="EN-US" style="font-family: "Times New Roman","serif";"><o:p></o:p></span></b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Note
that this is still at the point of “interim report”, and it is strongly hoped
there will be advancements in the discussions.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<br />
<div class="MsoNormal">
<br /></div>
Anonymoushttp://www.blogger.com/profile/01970069031404653598noreply@blogger.com0tag:blogger.com,1999:blog-3857831914796288952.post-55777525948391636072014-08-03T13:30:00.000+09:002014-08-03T13:30:07.130+09:00Real Effect of the Tax Hike<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(TAKAHASHI
Yoichi, PPPC Chairman)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">I’ve
been watching the economy since this April when the consumption tax rate was
hiked. What raised my curiosity first was the family budget survey by the
Ministry of Internal Affairs and Communications released on June 27.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Mass
media did not report the survey because there were releases of the labor survey
and the consumer price index by the MIC on the same day. That was the
background of my article “Worst 2 in the past 33 years!” (</span><span lang="EN-US"><a href="http://gendai.ismedia.jp/articles/-/39708"><span style="font-family: "Times New Roman","serif";">http://gendai.ismedia.jp/articles/-/39708</span></a></span><span lang="EN-US" style="font-family: "Times New Roman","serif";">) published on <i>Gendai Business</i>, which stimulated
comments from everywhere. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Then
I wrote an article “Index shows bad economic signs” (</span><span lang="EN-US"><a href="http://gendai.ismedia.jp/articles/-/39839"><span style="font-family: "Times New Roman","serif";">http://gendai.ismedia.jp/articles/-/39839</span></a></span><span lang="EN-US" style="font-family: "Times New Roman","serif";">) given the poor
figures released in the machine orders survey by the Cabinet Office on July 10.
I wrote another article “triangular deterioration of consumption, housing and
machine orders” (</span><span lang="EN-US"><a href="http://diamond.jp/articles/-/56518"><span style="font-family: "Times New Roman","serif";">http://diamond.jp/articles/-/56518</span></a></span><span lang="EN-US" style="font-family: "Times New Roman","serif";">) on Diamond online given
the bad figures in the house-building orders survey released by the Ministry of
Land, Infrastructure, Transport and Tourism on June 30. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Despite
all these bad figures, the government has maintained the view that “the
Japanese economy is on a moderate recovery trend” and never mentions a
recession. The Monthly Economic Report released on July 17 and the White Paper
on Economic and Fiscal Policy released on July 25 were written on the exactly
same tones, which caused me to write “Objection to the Monthly Economic Report!”
(</span><span lang="EN-US"><a href="http://gendai.ismedia.jp/articles/-/39916"><span style="font-family: "Times New Roman","serif";">http://gendai.ismedia.jp/articles/-/39916</span></a></span><span lang="EN-US" style="font-family: "Times New Roman","serif";">) and “strange
analysis in the White Paper that denies negative effects of the tax-hike” (</span><span lang="EN-US"><a href="http://gendai.ismedia.jp/articles/-/39956"><span style="font-family: "Times New Roman","serif";">http://gendai.ismedia.jp/articles/-/39956</span></a></span><span lang="EN-US" style="font-family: "Times New Roman","serif";">).<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
“bad figures” above refers to the fact that the figures show comparatively bad situations
than the past two times of the consumption tax-hike.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Statistics
is like a medical checkup and the economy can be diagnosed through various
numerical figures.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">What
I have written in the recent articles is the warning hinted by the official
statistical figures that the economy is on the verge. But the government’s
explanation sounds as if the economy is getting better looking at the very few good
points among all the other numbers in the medical examinations. It is like a
doctor diagnosing the author who has metabolic syndrome as okay because a very
few numbers showed a good sign.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">However,
given the June’s statistics on the mining and manufacturing production released
on July 30, some private-sector economists or government officials started
voicing confusion; its production index dropped by 3.3% from the previous
month. Among 15 types of industry, 14 showed decreases and 1 performed a flat,
and no industry showed a positive sign.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Especially
problematic index is the stock, suggesting that unintentional overstocking is
taking place.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
following chart indicates the stock-circulation with stocks in the horizontal
and shipping in the vertical axes. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg_OHooEEtc1GOKp3pCdx9F2CJS8S5tZIqlYXTdWfimXgMOIXmuPCcFkP2XCC0N4dDvpJKrApSzIwxjYpJxICTds8HIkUahyfFXQzwQNRyuvyI60H62vY-FwPVWF6lCT6hzHR6aB8CtiCA/s1600/0731%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg_OHooEEtc1GOKp3pCdx9F2CJS8S5tZIqlYXTdWfimXgMOIXmuPCcFkP2XCC0N4dDvpJKrApSzIwxjYpJxICTds8HIkUahyfFXQzwQNRyuvyI60H62vY-FwPVWF6lCT6hzHR6aB8CtiCA/s1600/0731%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93.png" height="300" width="400" /></a></div>
<div class="MsoNormal" style="margin-left: 7.05pt; mso-char-indent-count: -.67; text-indent: -7.05pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">*Chart: by
PPPC based on the mining and manufacturing industry index (Ministry of Economy,
Trade and Industry)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">It
has shown a clockwise rotation in the process of economic cycle. It is located
at 3/4 circulation as of June, which suggests that the economy will likely
shift to a declining stage.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="separator" style="clear: both;">
</div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Let
us remember that most economists at the time of last autumn were saying there
would be no negative effect on the economy even if the consumption tax was raised.
I wonder how they would explain the current situation.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 7.05pt; mso-char-indent-count: -.67; text-indent: -7.05pt;">
<br /></div>
Anonymoushttp://www.blogger.com/profile/01970069031404653598noreply@blogger.com0tag:blogger.com,1999:blog-3857831914796288952.post-42309030161713227792014-07-25T16:16:00.000+09:002014-07-25T16:16:36.913+09:00Surprising Measure by Local Assembly<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(YAMAMOTO
Yoichi, PPPC Visiting Researcher)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Many
people should be sick of scandals by local assemblyman. There are many reports
on deplorable affairs of local assemblyman every single day such as slurs,
emotional outburst, use of quasi-legal narcotic, and others. Although being indifferent
myself, the author found an astonishing news.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">An
article of Chunichi Shimbun on July 24 titled “improper remark, spearhead turns
to accuser assemblyman” is a subsequent report of the news saying that a city
councilor of Shinshiro city, Aichi prefecture, stated “(why not) distribute punched
condoms?” in the hall. The news reported that the assembly held a meeting on
July 23 to discuss measures.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Normally,
we would expect it ends with an apology of the councilor concerned; however,
Shinshiro city did not. The assembly regarded another councilor who criticized
the gaffe in his blog as the main culprit, and drafted a new rule to restrict
assemblyman’s information releases.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
concerned gaffe is stated by a nonpartisan assemblyman Tomonaga Osada in June
as a proposition “how about distributing punched condoms to couples who
submitted registration of marriage (as countermeasure to aging)?” Although it
didn’t attract much attention in the beginning, it was made public by a blog post
by Yohei Asao, Japan Communist Party, on July 14 which was followed by media
reports taking the gaffe as part of scandals by local assemblyman. Even though
it was a public remark in the official meeting of assembly, citizens wouldn’t
have noticed only if Asao did not mention it in his blog. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Nonetheless,
in the meeting on July 23, certain assemblyman voiced doubts on “releasing
personal view before stating it in the assembly” and “certain considerations
should have been given, e.g., noticing the other side, if releasing it with
individual names.” Other members followed, and agreed to establish new rules on
releasing opinions in the twitter or blog. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">However,
what’s wrong with an assemblyman, not mayor, who releases personal opinions? It
is an important duty of the assemblyman to reflect voices of the residents on
questions and to release personal views in front of the assembly. Also it is a
strange idea to notice in advance the elected, subject assemblyman. If such an
idea is reasonable, any party headquarters or Cabinet Office would be chaotically
busy.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">In
the first place, the concerned remark does deserve criticisms. If Osada really
thinks it is an effective idea to distribute punched condoms as countermeasure
to depopulating society, obviously he is not as talented as being an elected
official. Perhaps he might have said it as a light joke in the official session
of the assembly, but it would also mean he lacks seriousness and manner as an assemblyman.
<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
assembly must face the issue seriously, if not resignation by Osada, instead of
sidestepping the criticisms and accusing the councilor who revealed the gaffe. Further,
it must not move against the stream of seeking transparency of the assembly. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">According
to the Ministry of Internal Affairs and Communications, the number of local
assembly members in the country amounts to up to 34,476. There will likely be
increasing voices as “we don’t need that many.” The local assemblies face the
challenge of reducing the seats drastically, or proving their own significance
of being by truly working for the sake of citizens.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<br />
<div class="MsoNormal">
<br /></div>
Anonymoushttp://www.blogger.com/profile/01970069031404653598noreply@blogger.com0tag:blogger.com,1999:blog-3857831914796288952.post-39539351031793102402014-07-25T16:13:00.002+09:002014-07-25T16:13:47.238+09:00Taxi Fare Regulation and Decentralization<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(HARA
Eiji, PPPC President)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">In
this May, there were consecutive rulings in Osaka and Fukuoka district courts
to suspend the regulation by the central government over taxi fares.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
background was<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l0 level1 lfo1; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Based on the
legislation passed in the last year’s extraordinary Diet session, it’s been
arranged that the Ministry of Land, Infrastructure, Transport and Tourism
decides the “official latitude” of taxi fares.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">For
example, the fare of mid-sized cab in Osaka city is set as “maximum 680 yen,
minimum 660 yen” and any fares above or below the latitude would not be
licensed.<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US"><a href="http://wwwtb.mlit.go.jp/kinki/tetsuzuki/taxi/20140325-73.pdf" target="_blank"><span style="color: black; font-family: "Times New Roman","serif"; mso-fareast-font-family: "MS ゴシック";">http://wwwtb.mlit.go.jp/kinki/tetsuzuki/taxi/20140325-73.pdf</span></a></span><span lang="EN-US" style="font-family: "Times New Roman","serif";"><o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l0 level1 lfo1; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Opposing to this
decision, several taxi business operators having managed the business with
reduced fares (MK taxi and others) maintained the reduced fare below the
minimum after April.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Meanwhile,
the MLIT instructed the operators to increase the fare. And further, the MLIT
announced to release a compelling order to change the fares to the business
operators.<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Then
the taxi operators appealed for a suspension of the order to the judiciary and
the appeals were accepted in the Osaka and Fukuoka courts.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">With
regard to the taxi fares, it’s been ruled as “same fare in same region” since
1955, but the regulation has been relaxed gradually since 1990s given
criticisms that such uniform regulation should be revised (“zone fares” was
introduced in 1997).<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">In
2002, the “automatically-admitted fare” system was introduced (the fare below
the maximum would be automatically licensed. Fares below the latitude would be examined
individually), which opened possibility of discount taxi such as one coin.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">However,
the 2002 deregulation was later brought into criticisms as a symbolic example
of “excessive deregulation under the Koizumi administration.”<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">It
was argued that relaxation of not just the fare but the entry into the business
caused an increase of taxicabs on the streets and excessive competition, which
resulted to worsened working environments of the drivers and tragic accidents,
etc. And there was a reregulation on the taxi fare in 2009 by the Taxi
Correction and Promotion Law.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">And
it was the so-called “Law to decrease taxi” in the last year’s extraordinary
Diet session that was proposed to enhance the regulation further. By the
legislation, it‘s been returned to the framework in which the central
government decides the “official latitude” of the taxi fare.<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US"><a href="http://www.dpj.or.jp/article/103443" target="_blank"><span style="color: black; font-family: "Times New Roman","serif"; mso-fareast-font-family: "MS ゴシック";">http://www.dpj.or.jp/article/103443</span></a></span><span lang="EN-US" style="font-family: "Times New Roman","serif";"><o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Still,
the rulings in Osaka and Fukuoka district courts did not deny the entire
framework of “official latitude.” These were the rulings that there was room
for consideration on the price-setting as “maximum 680 yen, minimum 660 yen” in
Osaka city. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">However,
if working environments or safety standards need to be reconsidered, it should
be responded by labor regulation or safety regulation measures. It is nothing
but a ducking of the issue to return to the “official latitude” framework. The
author thinks the whole framework itself is not appropriate.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">There
is another point for discussion.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Even
if the official latitude would be maintained, the problem is who decides the
latitude.<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">While
it is the MLIT under the current framework, should it not be the local
governments well informed of the actual situation of the region that would
arrange the latitude of the taxi fare? <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Although
the enthusiasm for decentralization reforms has been cooled down lately, it is
hoped that local governments voice that such issues should be decided on their
own discretion.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<br />
<div class="MsoNormal">
<br /></div>
Anonymoushttp://www.blogger.com/profile/01970069031404653598noreply@blogger.com0tag:blogger.com,1999:blog-3857831914796288952.post-47865709558829196842014-07-16T14:42:00.000+09:002014-07-16T14:42:13.362+09:00Assemblyman’s Privilege: Political Activity Funds<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">YAMAMOTO
Yoichi (PPPC Visiting Researcher)<o:p></o:p></span></div>
<br />
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Ryutaro
Nonomura, </span><span lang="EN" style="font-family: "Times New Roman","serif"; mso-ansi-language: EN;">who became an international laughingstock for his
emotional outburst at a news conference, resigned as Hyogo prefectural
assemblyman on July 11. But this must not be an end; rather, it should be
considered as an opportunity to drastically review the way of political
activity funds in both the national and local assemblies. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN" style="font-family: "Times New Roman","serif"; mso-ansi-language: EN;">The starting was that Nonomura spent 3 million yen of
political activity funds for 195 long-distance, one-day business trips he
supposedly made in fiscal 2013 that were concentrated in the Kinosaki hot
spring resort in Toyooka, Hyogo Prefecture, and three other locations. After being
asked by reporters about his dubious spending, Nonomura captured global
attentions for screaming and wailing.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Political
activity fund is an expense officially allowed for local assemblyman that can
be spent on office rent, personnel expense, trips, etc.; in Hyogo prefecture,
the assemblyman can spend this fund up to 500 thousand yen per month and 6
million yen per year. Nonomura received 4.84 million yen in fiscal 2011 and 6
million yen in fiscal 2012 and 2013, totally </span><span lang="EN" style="font-family: "Times New Roman","serif"; mso-ansi-language: EN;">18.34
million yen in the past three years. While the unspent amount should be
returned, Nonomura was spending them all. However, 3/4 of the spending lacks
receipts and Nonomura reportedly provided vague answers or said, “I do not
remember.”<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN" style="font-family: "Times New Roman","serif"; mso-ansi-language: EN;">This incident uncovered the overly lenient checks on
assemblyman’s spending. The Hyogo prefecture has a provision stating receipts
may not be submitted in such cases as that an assemblyman bought tickets through
vending machines or in hasty. Nonomura seems to have abused the provision, but
the rule doesn’t make sense as reasons not to attach the receipts because
modern vending machines do have the capacity to print receipts.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN" style="font-family: "Times New Roman","serif"; mso-ansi-language: EN;">It also became clear that Nonomura and others bought
sheets of postage stamps. This is as problematic because they are exchangeable
for cash. They should have used the postpaid mail or other services to prove the
fact that they really used mails.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN" style="font-family: "Times New Roman","serif"; mso-ansi-language: EN;">The assembly’s secretariat should also be accused of
receiving the reports which do not indicate what the money was spent for. Any
private companies would not accept such reports. Checks against the assembly must
be stricter as they are funded by tax money.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN" style="font-family: "Times New Roman","serif"; mso-ansi-language: EN;">As a matter of fact, the situation is better in the local
assemblies although unsatisfactory. At least the reports on earnings and
expenses by assemblyman are checked ex post and inappropriate expenses are to
be pointed out. On the other hand, the political activity fund provided to the
Diet members does not accompany obligations to report the receipts and
disbursements and there is no way to investigate them.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN" style="font-family: "Times New Roman","serif"; mso-ansi-language: EN;">The Diet members in both Houses are provided with 1
million yen/month. There are neither compulsory reports nor rules to return
them. While younger lawmakers, often struggling for funds, spend the money for
renting office or hiring personal secretaries, ample veteran lawmakers simply
keep the money in their pocket as the “second salary.” <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN" style="font-family: "Times New Roman","serif"; mso-ansi-language: EN;">Furthermore, since it is assumed that the money is on
expenses, there is no tax imposition. It means that veteran lawmakers receive
12 million yen of the net income in addition to 21 million yen of the annual
income. It is nothing but a privilege. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN" style="font-family: "Times New Roman","serif"; mso-ansi-language: EN;">While the rules with regard to political activity fund
are under such problematic circumstances, few lawmakers voice reconsiderations
on the situation. Even the opposition lawmakers, once noisy over the sexist
slurs in the Tokyo metropolitan assembly, have remained relatively silent over
Nonomura in fear that public criticism turns against themselves.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN" style="font-family: "Times New Roman","serif"; mso-ansi-language: EN;">However, the Diet members should account for all the
receipts and disbursements because they are funded by tax; just like in the
local assemblies. All the expenditures must be reported with receipts every
year, and any unspent-amount should be returned. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
<span lang="EN" style="font-family: "Times New Roman","serif"; mso-ansi-language: EN;">It seems that Diet members and local assembly members
expect that the situation calms down after Nonomura resigned. Should it not be.
There is no end to this issue until the political activity funds in the Diet
and local assemblies are to be revised to an appropriate extent. <o:p></o:p></span></div>
Anonymoushttp://www.blogger.com/profile/01970069031404653598noreply@blogger.com0tag:blogger.com,1999:blog-3857831914796288952.post-76393834820680639402014-07-11T18:43:00.001+09:002014-07-11T18:43:18.809+09:00Current State of Agricultural Reform<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(HARA
Eiji, PPPC President)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">In
the new Japan Revitalization Strategy revised in June, we were able to observe
firm advancements in the agricultural reform.<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">It
may be applauded that the Cabinet mentioned reforms of Japan Agriculture which
has long been considered as a difficult challenge.<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Yet,
it does not mean a happy-end by itself. Let us summarize the past achievements
and remaining challenges here.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">First,
in the field of agriculture, many have shared an understanding on what should
be done for many years.<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">The
bottom line is to heighten productivity in the management of agriculture and to
rear up farmers with ambitions and abilities. To that end farmlands need to be
consolidated and agricultural policy must break with measures that distribute
subsidies to al farmers uniformly. <o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Such
a viewpoint has been shared from the 1960s when Basic Act on Agriculture was
enacted and Ogata village kicked off. However, there have hardly been major
advancements for generations and it resulted to the present agricultural
situation.<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">In
the 2000s, under the Basic Guideline on Economic and Fiscal Policy in 2002,
such measures as the following have been taken.<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l1 level1 lfo1; mso-para-margin-left: 0gd; mso-text-indent-alt: -21.0pt; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">i.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Expansion
of corporate entry into agriculture<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l1 level1 lfo1; mso-para-margin-left: 0gd; mso-text-indent-alt: -21.0pt; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">ii.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">New
grant system limiting subject to ambitious farmers with certain size of
farmlands<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Although
there were certain accomplishments due to these efforts, it hasn’t fully come
to light as there was a certain kind of backward movements.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Under
the current circumstance, the remaining challenges in the agriculture can be
listed as follows.<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l9 level1 lfo2; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">1.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Businesslike
management of agriculture<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";"><Relaxation
of conditions to be qualified as agricultural production corporation><o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Currently,
only the agricultural production corporations are allowed to own farmlands and
there are strict conditions on an establishment of the corporations regarding financial
composition, membership of directors, etc. Such restrictions have prevented
Japanese agriculture from switching into businesslike management styles. <o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l9 level1 lfo2; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">2.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Measures
to consolidate and make effective use of farmlands <o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";"><Reform
on Agriculture Committee><o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Currently
the agriculture committees in the municipal government, composed of elected
(often nonelected) local bosses, dominate authorities over the right to use and
shift ownership of farmlands. It often results to exclusion of entry of newcomers.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";"><Others><o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">For
more, there have been debates to promote effective utilization of farmlands
from the viewpoint of tax.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l9 level1 lfo2; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">3.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">JA
reform<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Traditionally,
many farmers who are not likely to grow have barely survived by thoroughly
depending on the JA (procure materials from JA, borrow loans from JA, receive
government grants via JA, produce goods in accordance with JA instructions, deliver
goods to JA, etc.). Meanwhile, independent, autonomous management style of
agriculture has been disliked.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l9 level1 lfo2; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">4.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Reform
on rice adjustment system and price control<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">It
refers to the rice adjustment system and exclusion of price competition by
trade barriers.<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">With
regard to these challenges, efforts of the Abe Cabinet can be summarized as the
table1.<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l5 level1 lfo3; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Farmland Consolidation
Banks Act was enacted in 2013,<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l5 level1 lfo3; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Regional experiments
of reforms have been arranged in the National Strategic Special Zones in 2014<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">In
addition, there were further advancements in the revised Japan Revitalization
Strategy in June.<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">As
is clear from the table1, there have been advancements on the themes which have
long been considered as difficult, and surely it makes a big step forward.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0mm 5.4pt 0mm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr>
<td colspan="4" style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 435.1pt;" valign="top" width="580">
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Efforts of the Abe Cabinet<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border: none; mso-cell-special: placeholder;" width="1"><div class="MsoNormal">
<br /></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.75pt;" valign="top" width="145">
<div class="MsoNormal">
<br /></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.75pt;" valign="top" width="145">
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">2013<o:p></o:p></span></div>
</td>
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<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">NSSZ Act<o:p></o:p></span></div>
<div align="center" class="MsoListParagraph" style="margin-left: 18.0pt; mso-list: l2 level1 lfo6; mso-para-margin-left: 0gd; text-align: center; text-indent: -18.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">è<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";"> implemented in spring 2014<o:p></o:p></span></div>
</td>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">Measures
arranged in the Revised Japan Revitalization Strategy in June<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">Condition of Agricultural
Production Corporation<o:p></o:p></span></div>
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<br /></div>
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<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">Exceptional
measure on directors (accepting single director)<o:p></o:p></span></div>
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<td colspan="2" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
<div align="left" class="MsoListParagraph" style="margin-left: 21pt; text-indent: -21pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Relaxation of
conditions of directors<o:p></o:p></span></div>
<div align="left" class="MsoListParagraph" style="margin-left: 21pt; text-indent: -21pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Relaxation of
conditions on membership (no limits up to 1/2 members)<o:p></o:p></span></div>
<div align="left" class="MsoListParagraph" style="margin-left: 18pt; text-indent: -18pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">è<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Next Diet session<o:p></o:p></span></div>
</td>
</tr>
<tr>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">Consolidation, utilization of farmlands<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">Farmland Consolidation Banks<o:p></o:p></span></div>
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<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l11 level1 lfo7; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Shift of authority
from agriculture committee<o:p></o:p></span></div>
<div align="left" class="MsoListParagraph" style="margin-left: 21pt; text-indent: -21pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Expansion of
effective use (farmer’s restaurant)<o:p></o:p></span></div>
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<td colspan="2" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">Reconsidering composition of
agriculture committee<o:p></o:p></span></div>
<div align="left" class="MsoListParagraph" style="margin-left: 18pt; text-indent: -18pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">è<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Next Diet session<o:p></o:p></span></div>
</td>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">JA reform<o:p></o:p></span></div>
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<br /></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
<div align="left" class="MsoListParagraph" style="margin-left: 21pt; text-indent: -21pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Credit loans to
agriculture<o:p></o:p></span></div>
</td>
<td colspan="2" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
<div align="left" class="MsoListParagraph" style="margin-left: 21pt; text-indent: -21pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Relooking JA-Zenchu<o:p></o:p></span></div>
<div align="left" class="MsoListParagraph" style="margin-left: 21pt; text-indent: -21pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Corporatization of
JA-Zennoh<o:p></o:p></span></div>
<div align="left" class="MsoListParagraph" style="margin-left: 18pt; text-indent: -18pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">è<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Next Diet session<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.75pt;" valign="top" width="145">
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Reform on rice adjustment
system and price control<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.75pt;" valign="top" width="145">
<div align="left" class="MsoListParagraph" style="margin-left: 21pt; text-indent: -21pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Abolishment of rice
adjustment system?<o:p></o:p></span></div>
<div align="left" class="MsoListParagraph" style="margin-left: 21pt; text-indent: -21pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Participation in the
TPP negotiations<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
<div class="MsoNormal">
<br /></div>
</td>
<td colspan="2" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 108.8pt;" valign="top" width="145">
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<br /></div>
</td>
</tr>
<!--[if !supportMisalignedColumns]-->
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<td style="border: none;" width="145"></td>
<td style="border: none;" width="145"></td>
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<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">In
the meantime, there are remaining challenges to be noted.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l12 level1 lfo10; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">①<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">The
Japan Revitalization Strategy is only at the stage of drafting and specific
measures are to be arranged hereafter.<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l12 level1 lfo10; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">②<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">There
are further points to be reconsidered in each challenge (table2).<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 42.0pt; mso-list: l6 level1 lfo11; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">I.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">With
regard to conditions to establish agricultural production corporation, it is
still problematic that the law provides “more than 1/2 of investors must be those
engaging in agriculture.” This provision makes it difficult for ordinary
companies to enter into agriculture by owing farmlands, and for ventures to
seek being listed, as well.<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 42.0pt; mso-list: l6 level1 lfo11; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">II.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">While
it was arranged to transfer from the election of committee members to
nomination by mayors with assembly’s consent, it might result to a mere fact
that the same members will be selected as ever. It requires further specific organizational
devices to really change the actual state of the agriculture committee. <o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 42.0pt; mso-list: l6 level1 lfo11; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">III.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">With
regard to the JA reform, it is yet clear what kind of organizations both Zenchu
and Zennoh will be rebuilt into (although Zenoh will be “corporatized,” it is
yet known who will be the shareholders and by what percent). It all depends on
the future discussions on their organizational designs.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0mm 5.4pt 0mm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr>
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 435.1pt;" valign="top" width="580">
<div align="center" class="MsoNormal" style="text-align: center;">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">Items arranged in the Revised
Japan Revitalization Strategy and remaining challenges<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0mm 5.4pt 0mm 5.4pt; width: 435.1pt;" valign="top" width="580">
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l8 level1 lfo12; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Condition of
Agricultural Production Corporation<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 42.0pt; mso-list: l10 level1 lfo13; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">²<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">“more than 1/2 of investors
must be those engaging in agriculture”<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 18.0pt; mso-list: l0 level1 lfo5; mso-para-margin-left: 0gd; text-indent: -18.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">è<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Neither ordinary
companies can entry, nor can agricultural production corporations be listed.<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 42.0pt; mso-list: l10 level1 lfo13; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">²<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">“further relaxation
of condition will be reconsidered after five years…”<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l8 level1 lfo12; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">Agriculture
Committee<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 42.0pt; mso-list: l10 level1 lfo13; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">²<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">“abolishing the
election system,” “nomination by mayors with a requirement of the assembly’s
consent”<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 21.0pt; mso-list: l8 level1 lfo12; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">l<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">JA reform<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 42.0pt; mso-list: l10 level1 lfo13; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">²<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">“central union will
shift to a new autonomous institution”<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-left: 42.0pt; mso-list: l10 level1 lfo13; mso-para-margin-left: 0gd; text-indent: -21.0pt;">
<!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">²<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman","serif";">“Zennoh will be able
to turn into a stock company invested by JA”<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">We
need to keep paying attentions to these points in eye if the next ordinary
session of the Diet.<o:p></o:p></span></div>
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Anonymoushttp://www.blogger.com/profile/01970069031404653598noreply@blogger.com0tag:blogger.com,1999:blog-3857831914796288952.post-65586497985956076502014-07-11T18:41:00.000+09:002014-07-11T18:41:03.856+09:00Euro Membership: gain or loss?<div class="MsoNormal">
<span lang="EN-US" style="font-family: "Times New Roman","serif";">(TAKAHASHI
Yoichi, PPPC Chairman)<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">Economies
of Eastern European countries have shown fairly good performances lately.
Poland will likely record more than 3% of economic growth rate in FY 2014. Similarly,
the Czech Republic’s prospected economic growth rate in 2014-2016 will mark
2-3%. Both economies have shown a remarkable performance despite concerns caused
by negative growth in Ukraine. On the other hand, Greek economy is yet to get
out of uncertainty.<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">Within
Europe, many Euro-member countries have marked low growth while non-Euro-member
economies have accomplished economic growth. The author thinks it is not
coincident because such an incident could be predicted by a famous theory in
international finance.<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">A
Nobel Prize winner Robert Alexander Mundell is known for his theory on optimal
currency area, whose essence can be summarized as conditions for using common
currencies such as euro.<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">First,
in order to utilize common currencies, it is required that fluctuations of
economy and inflation rates in each country accord with each other. Second, trade
inter-dependencies must be high among the member countries in order to standardize
the economies. Third, economic flexibility and open labor markets are required
so that structural coordination is available and people can move across the
boundaries. <o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">Because
same interest rates are applied in member countries under the common
currencies, any monetary policy would not work as long as there are varieties
in economic fluctuation and inflation rates in each country. The three
conditions above are thus required to make macro-monetary policy function. <o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">Given
the conditions, there would not be much problem if it was just the major
countries such as France and Germany that use the common euro currency, but
economic performance would automatically decline by enforcing the minor
countries such as Greece to join the membership. <o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">Nonetheless,
as result of political intensions of France and Germany to expand the euro
currency irrespective of such economic calculation, the current euro has
expanded beyond Mundell’s optimal currency area. <o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">To
note, there was a political calculation to support Greece as fort against
Islamic countries. Greece has historically confronted with Turkey and invested
a lot in military expenses. There are illegal immigrants flowing from
north-African countries and Greece has served as front-gate to prevent
immigrants from spreading all over Europe. In the bottom line of the Greek
tragedy there was such a political intension behind the euro-expansion
orientation.<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">At
the same time, there is a gaining for the major member countries such as France
and Germany by increasing the peripheral member countries. As the ECB’s
interest rate is set at relatively-lower to accord with that of France and
Germany that dominate majority of price indexes of euro. <o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">Among
the euro member countries, while prices of export goods can be controlled in
the slowly-inflating economies such as France and Germany, export goods of
quickly-inflating economies such as Greece would lose the price
competitiveness. Consequently, France and Germany have enjoyed the fruits of
increasing exports; they were the beneficiaries of euro-expansion. <o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">Now
the euro has come beyond the optimal currency area and will turn into decline
as a whole. The positive sign of East-European economies seems to be the other
side of that coin. <o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">Let
us confirm by siting the data. The graph below shows the average economic
growth rates in the euro and non-euro countries since 1999 when the euro was
established.<o:p></o:p></span></div>
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<b><span lang="EN-US" style="font-family: 'Times New Roman', serif;"> <u>Economic Growth of euro-member
countries and non-euro countries in Europe<o:p></o:p></u></span></b></div>
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<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhGE2ngecqbdQRqvH2Ljrf8b8bmRK3IXMHCOvB1qEeKzDAjPune44wJ2HPjWpxCQRvdzji26mZwlFDdNbdl6fB0TUufKPuZu6TOq3sE-n_uQF1MLKOmMnFN5-HUKpVBLaD_KPmrASRO9EU/s1600/0702%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhGE2ngecqbdQRqvH2Ljrf8b8bmRK3IXMHCOvB1qEeKzDAjPune44wJ2HPjWpxCQRvdzji26mZwlFDdNbdl6fB0TUufKPuZu6TOq3sE-n_uQF1MLKOmMnFN5-HUKpVBLaD_KPmrASRO9EU/s1600/0702%E9%AB%98%E6%A9%8B%E3%81%95%E3%82%93.jpg" height="257" width="400" /></a></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif";">Non-euro
countries have performed better in most of these years. It seems not to be
promising to join the euro which is now beyond the optimal currency area.<o:p></o:p></span></div>
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Anonymoushttp://www.blogger.com/profile/01970069031404653598noreply@blogger.com0