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Gist of PM Abe’s meeting with traveling press, May 2

  • May 3, 2016
  • , Asahi , p. 4
  • Translation

Following is the gist of Prime Minister Shinzo Abe’s meeting with the traveling press corps in Florence, Italy, on May 2:

 

G7 Ise-Shima Summit

 

The G7 nations need to devise monetary and fiscal policies, structural reforms, and other policy tools and launch the G7 version of the “three arrows” in order to drive sustainable, vigorous economic growth in the world. We would like to send out a clear message to the world at the Ise-Shima Summit.

 

During this tour, I would like to hold discussions with the European leaders to build consensus on the need for the G7 to drive sustainable, vigorous economic growth in the world.

 

Consumption tax increase

 

The consumption tax will contribute to the mid- and long-term stability of the social security systems. On the other hand, there is no denying that the increase in the consumption tax rate to 8% in (April) 2014 had an unexpectedly serious impact on consumption. I would like to boost consumption by establishing a virtuous cycle of robust economic growth and distribution.

 

Our basic thinking that increasing the consumption tax rate to 10% in April 2017 should be implemented (as scheduled) remains unchanged. At the same time, we would like to discuss with the G7 nations on how we should cooperate and what message we should send out on the uncertainty in the world economy. I would also like to take a close look at the opinions expressed at the analysis meeting on international finance and economy (for soliciting the views of economic experts).

 

Lower House dissolution

 

I am absolutely not thinking of dissolving the House of Representatives. I have no way of answering (the question on how dissolution is related to putting off the consumption tax hike) at this point because I am not thinking of dissolution at all.

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