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Ideal Socioeconomy and Policies for Economic Rebirth

July.1999 Economic Council

Cabinet Decision on "Ideal Socioeconomy and Policies for Economic Rebirth"

July 8, 1999

The Government has decided to adopt the attached "Ideal Socioeconomy and Policies for Economic Rebirth", as the policy for economic management for around 10-year period from 1999 to early in the 21st century.

To promote effective execution of the policy, the Government shall review each year domestic and international economic conditions, implementation of policy measure and consideration for its embodiment. The result of this review will be reflected in its policy management.

Reply by the Economic Council(July 5, 1999)

July 5, 1999

Mr. Keizo Obuchi
Prime Minister

Reply to Inquiry No. 15

In response to Inquiry No. 15 dated January 18, 1999, the Economic Council is pleased to reply and attach the "Ideal Socioeconomy and Policies for Economic Rebirth".

In compiling this reply 27 members, 82 special members and 5 specialized (expert) members of the Economic Council, with the cooperation of related government agencies, conducted intensive and careful studies and deliberations at meetings of the Council, its various committees and subcommittees constituted under the Council.

It is hoped that the Government will promptly adopt the 的deal Socioeconomy and Policies for Economic Rebirth? based on this reply. It is also hoped that, in accordance with changes in domestic and international circumstances, the Government will, from the medium- and long-term standpoint, implement this Plan in a practical way in line with the economic management of each fiscal year, while endeavoring to implement flexible policy management.

At the same time, it is hoped that the Government will make efforts to faster understanding and cooperation among the public concerning the aims of the Plan.

Shoichiro Toyoda
Chairman of the Economic Council

"Ideal Socioeconomy and Policies for Economic Rebirth" "Ideal Socioeconomy and Policies for Economic Rebirth" PDF FILE(JAPANESE)

PDF FILE(JAPANESE)1/4(15KB) 2/4(125KB) 3/4(7KB) 4/4(33KB)


Considerations for the Japanese Socioeconomy in the 21st Century(APR.13.1999)

January.1999 Economic Council

  • Inquiry by the Prime Minister(January 18, 1999) Inquiry by the Prime Minister

January 18, 1999

Mr. Shoichiro Toyoda
Chairman of the Economic Council
Based upon the provision in Paragraph 2, Article 41, of the Ordinance for the Organization of Economic Planning Agency, the following inquiry is submitted.
Inquiry No. 15
"At historical turning point in home and abroad, what is the ideal domestic socioeconomy in the 'new era', and what are the Government's economic rebirth policies for realizing it?"

Keizo Obuchi
Prime Minister

Explanation of the Inquiry

Given profound and rapid changes in domestic and international conditions, we currently stand at a historical turning point in our development. Modern Japan has successfully created an advanced industrial society, but the world is progressing into the age of diverse intelligence. Our nation needs to play an active and creative role in this new human civilization.

At this juncture, it is necessary to go beyond conventional economic planning concepts and envisage the ideal Japan of the future.

The Japanese economy currently faces serious recession. We need to overcome this situation and rejuvenate the economy. We also have to resolve problems like the low birthrate, aging society and declining population for long-term prosperity and stability in the new age.

We must proceed drastic structural reforms to maximize efficiency through market mechanism. This will necessitate optimal use of labor, capital, land and other production elements as well as further progress of information oriented society. To make sure that these reforms enable us to free ourselves of anxiety about new socioeconomic system, it is necessary to clarify political channels for creating a concrete socioeconomic framework that allows individuals to make their own choices and ensures peace of mind and safety with harmony as a whole.

Under these circumstances, this inquiry requests the Council to formulate a basic policy that the government should adopt for around 10-year period from 1999, to enable us to envisage the ideal Japanese socioeconomy in the beginning of 21st century and move into the future with confidence and pride.

In formulating this policy, open and lively discussion, including broad solicitation of nationwide public opinion and opinion from overseas as well, is expected.