Govt growth panel must draw on private expertise

The Yomiuri Shimbun (Sep. 11, 2010)
Govt growth panel must draw on private expertise
成長実現会議　経済再生に民間の知恵生かせ（9月10日付・読売社説）

The vast wisdom accumulated by private-sector experts should be fully utilized to help restore the growth potential of the Japanese economy.
　日本経済の成長を取り戻すため、民間の知恵を大いに活用すべきだ。

On Thursday, a key government panel on new growth strategies held its inaugural meeting.
　政府の「新成長戦略実現会議」が９日、初会合を開き議論を始めた。

During the meeting, Prime Minister Naoto Kan instructed Cabinet members to study ways to realize his administration's new growth strategy.
One issue on the table is a cut in the effective rate of corporate taxation--the ratio of the corporate sector's national and local tax payments to its taxable income. This nation's effective corporate tax rate is much higher than those in many other countries.
The prime minister also told his Cabinet to consider tax reductions aimed at helping create more corporate jobs.
　菅首相はさっそく、国際的に高い法人税の実効税率の引き下げや、雇用確保に役立つ減税措置の検討などを指示した。

Chaired by the prime minister, the growth strategy council includes Cabinet ministers involved with the economy and top academics and experts, as well as the Bank of Japan governor and the chiefs of the nation's three main business organizations. The blue-ribbon panel will spearhead government efforts to devise and implement specific policies in line with the growth strategy adopted in June.
　実現会議は、菅首相を議長に主な経済閣僚、日銀総裁、有識者、経済団体のトップがメンバーとなっており、６月に決めた新成長戦略を具体化する司令塔となる。

Go beyond growth strategy

The council--a mix of talented figures from various sectors--should not be limited just to addressing topics related to the growth strategy.
　せっかく多彩な人材が集結するのに、成長戦略だけをテーマとするのではもったいない。

The defunct Council on Economic and Fiscal Policy may be illuminating in this respect. This panel took the lead in crafting and implementing government polices under the then ruling coalition of the Liberal Democratic Party and New Komeito.
The growth strategy council needs to serve as a forum for discussions on a wide range of issues, including the urgent matter of how to rectify the recent upsurge in the value of the yen. Other topics include such fiscal and financial policies as medium- and long-term reform of the fiscal and social security systems.
　自公政権時代に政策決定を主導した経済財政諮問会議などを参考に、当面の円高対策から、中長期をにらんだ財政・社会保障改革まで、財政・金融政策を幅広く議論する会議とする必要があろう。

The government's new growth strategy seeks a swift resolution to the ongoing deflationary crisis while also ensuring that the nation's average annual growth rate in the next decade reaches a hefty 3 percent in nominal terms and 2 percent in real terms.
　政府の成長戦略は、早期にデフレを克服し、今後１０年の平均成長率を名目で３％、実質では２％にする高い目標を掲げている。

The Kan administration also has said it will strive to generate new demand worth more than 120 trillion yen and create about 5 million jobs through government support for environmental protection, health care and other growth fields, combined with efforts to encourage investment in other Asian markets.
環境や健康など成長分野や、アジア向け投資などにテコ入れし、１２０兆円を超す新規需要と、５００万人の雇用を創出するという。

High hurdles must be cleared to achieve these targets.
　これを達成するハードルはかなり高い。

The growth strategy council will work to smooth differences among the various policies formulated by different ministries, while also issuing instructions to each office concerning specific measures to be implemented.
実現会議は、府省ごとにバラバラの政策を調整し、具体策を指示する役回りだ。

We hope the new panel will work to end the bureaucratic turf battle among government offices seeking greater authority, and remedy the lack of coordination among them in implementing government policies.
These hurdles only serve to undercut workable policies.
　有効な政策の障害となる官僚の権限争いや縦割り行政を排除してほしい。

Also, the respective roles of the growth strategy panel and the National Policy Unit must be clearly defined.
国家戦略室との役割分担も整理しておく必要があろう。

The important thing is to marshal conflicting positions among the ministries, and facilitate a consensus on each divisive issue.
　重要なのは、府省や業界ごとに対立する主張を整理し、どう意見集約していくかだ。

Lend ear to business world

Divided opinions can be seen, for example, on the issue of lowering the corporate tax rate. The Economy, Trade and Industry Ministry and the Finance Ministry are sharply divided over this matter--the former wants to reduce the rate, but the latter fears doing so could lessen tax revenue. Kan will be tested as to whether his administration can lead the way to reducing the tax rate as soon as possible.
　首相が指示した法人税率の引き下げでも、積極的な経済産業省と、税収減を懸念する財務省との温度差は大きい。早期実現に向け、政治の指導力が問われよう。

Indications are the growth strategy panel will make its presence strongly felt as a vehicle for reflecting the opinions of the business community in government policy.
　今後、実現会議は経済界の主張を政策に反映していく場として、重要な存在になりそうだ。

The government of former Prime Minister Yukio Hatoyama alienated itself from financial circles, hammering out various policies that could dampen the economy.
　鳩山内閣時代は、政治と経済界が疎遠になり、景気の足を引っ張るような政策が次々に打ち出された。

The economy is still suffering from the aftereffects of the unsatisfactory relationship between the Hatoyama administration and the business community.
いまだその後遺症が残る。

The Kan administration must listen to financial circles' and experts' opinions about the debatable policies adopted by his predecessor, including a ban on temporary workers being dispatched to manufacturing companies and a self-imposed goal for a large cut in greenhouse gas emissions. If necessary, the government must reconsider such policies.
　製造業への派遣労働禁止や温室効果ガスの大幅削減など、異論の多い政策は、専門家の意見も聞きつつ、経済界の声に耳を傾けて見直さねばなるまい。

The market is experiencing a rapid rise in the yen's value and a sharp fall in stock prices.
　市場では急速に円高・株安が進んでいる。

There has been no government forum that included both the prime minister and the central bank governor, because of the Hatoyama administration's decision to abolish the Council on Economic and Fiscal Policy.
鳩山内閣が経済財政諮問会議を廃止してしまったことで、首相と日銀総裁が同席する会議は途絶えていた。

We hope the launch of the growth strategy council will smooth policy coordination between the government and the central bank.
　実現会議の発足で、政府・日銀の政策協調が、より円滑になるよう期待したい。

(From The Yomiuri Shimbun, Sept. 10, 2010)
（2010年9月10日01時21分 読売新聞）