Abe Now Aims to Finish Social Security Reforms in 3 Yrs

Politics Lifestyle

Tokyo, Oct. 5 (Jiji Press)--Japanese Prime Minister Shinzo Abe said Friday he is determined to achieve social security reforms in three years.

Abe expressed his willingness to accelerate particularly reforms to curb swelling government spending for medical and nursing care services amid a rapidly aging society at a meeting of the Council on Economic and Fiscal Policy.

In this regard, a council member from the private sector proposed that fiscal 2019 social security budget growth be limited to less than 500 billion yen, the target the government has set until fiscal 2018 ending next March.

At the meeting, Abe, chair of the council, instructed members to come up with measures to prevent the planned consumption tax hike from 8 pct to 10 pct in October next year from causing sharp deterioration in consumption.

A private-sector member called for boosting demand for automobiles, homes and other durable goods.

[Copyright The Jiji Press, Ltd.]

Jiji Press