Private-sector members of a key Japanese government panel underlined on Monday the need for the government to drastically review its budget compilation process to realize “responsible yet aggressive” fiscal policy advocated by Prime Minister Sanae Takaichi.
The private-sector members also called for setting a new investment quota separate from ordinary expenditures for investments regarding crisis management and growth, which are central to the administration’s growth strategy.
The proposal was made at a meeting of the Council on Economic and Fiscal Policy, chaired by Takaichi, to begin full-fledged discussions on compiling the administration’s first basic policy on economic and fiscal management and reform this summer.
