政労使協議 成長の好循環へ議論深めたい

The Yomiuri Shimbun September 22, 2013
3 sides urged to discuss ways to achieve virtuous cycle of growth
政労使協議　成長の好循環へ議論深めたい（9月21日付・読売社説）

Pulling the country out of deflation is a goal shared by the government and the labor and business communities. We urge these three sides to deepen discussions and draw up a feasible strategy to establish a virtuous cycle in which wages will rise along with economic growth.
　デフレからの脱却は、政府、労働界、経済界に共通する目標である。
　政労使は、経済成長とともに賃金が上昇していく「好循環」の実現に向けた論議を深め、実効性のある戦略を練ってもらいたい。

The government proposed launching such three-way talks in its growth strategy unveiled in June, and the three sides held their first meeting on Friday.
　政府が６月の成長戦略で設置を打ち出した、「政労使協議」の初会合が開かれた。

The government has taken the rare action of establishing a forum in which it will discuss wages and other labor issues with representatives of workers and employers. This appears to signal that Prime Minister Shinzo Abe is determined to lift the Japanese economy from deflation by any means.
　政府が労使と、賃金改善などの方策を話し合う異例の措置をとったのは、何としてもデフレ脱却を果たしたいという、安倍首相の強い決意の表れだろう。

During Friday’s meeting, Abe stressed that the government intends to strengthen cooperation with businesses and other sides concerned. “Whether we can establish a virtuous cycle that will boost corporate earnings, increase wages and expand employment is key,” he said.
　首相は会合で、「企業収益と賃金、雇用の拡大を伴う好循環につなげられるかが勝負だ」と述べ、経済界などとの連携を強化する考えを強調した。

Meanwhile, Hiromasa Yonekura, chairman of the Japan Business Federation (Keidanren), called on the government to implement support measures for companies. “If conditions are improved so companies can demonstrate their abilities, both employment and wages will grow,” Yonekura said.
　一方、経団連の米倉弘昌会長は「企業が力を発揮できる環境整備が行われれば、雇用も賃金も上がっていく」との見通しを示し、企業への政策支援を求めた。

The nation’s consumption and manufacturing are recovering, apparently backed by the current administration’s Abenomics economic measures. The Abe administration is expected to face a crucial test as to whether it will be able to help companies’ brisk earnings spill over to households and achieve self-sustaining economic growth driven by the private sector.
　安倍政権の経済政策「アベノミクス」の効果で、消費や生産は回復している。企業の好業績が家計を潤し、民間主導の自律的成長を達成できるかどうか、これからが正念場である。

End vicious cycle

If inflation rises to 2 percent, the target set by the Bank of Japan, and the consumption tax rate is raised in April as planned, households have to bear a heavier financial burden. Unless wages go up, consumption could slump, possibly leading to an economic downturn.
　日銀が目標とする消費者物価の２％上昇や、来年４月の消費税率の引き上げが実現すると、家計の負担は増える。賃金も上昇しないと消費が冷え込み、景気が腰折れする恐れがある。

The issue of individual companies’ wage levels is not on the agenda of the three-way talks, but the development of the talks could affect future labor-management wage negotiations.
　政労使協議は、個別の賃金水準を議題にしない方針だが、論議の行方によっては、今後の賃金交渉に影響が及びそうだ。

In recent years, many labor unions refrained from seeking a rise in overall pay scales during annual spring labor offensives, as they put higher priority on job security. Thus, the Abe administration’s positive stance on wage hikes could become a strong tailwind for labor unions.
　近年の春闘で労働組合の多くが雇用確保を優先し、賃金改善を求めるベースアップ要求を控えてきた。賃上げに前向きな安倍政権の姿勢は、労組には頼もしい追い風となるのではないか。

After seeing an upturn in their earnings, companies tend to raise bonuses but try to leave basic pay scales unchanged as much as possible, because basic wage hikes are likely to result in fixed cost increases.
　企業は業績が上向いた場合、ボーナスは増やしても、固定費の上昇につながる基本給をできるだけ据え置く傾向がある。

This can be regarded as a rational management decision for an individual company. However, lower wages could dent consumers’ appetite for spending, eventually reducing sales of products and services. In the past, such sales slumps have spurred price falls and contributed to worsening deflation.
　個々の経営判断としては合理的とも言えるが、賃金低迷は消費者の購買意欲を低下させ、企業の売り上げは減る。物価下落に拍車をかけ、デフレ悪化の一因となってきたことは否めない。

Japanese companies are estimated to hold about ¥220 trillion in cash and deposits. The firms’ massive reserves are met with criticism, as they appear to make them reluctant to share profits with workers.
　日本企業の保有する現金と預金は約２２０兆円もある。巨額の内部留保の存在は、日本企業が労働者への利益分配に消極的だとする批判の根拠とされている。

The government plans to soon devise its second growth strategy, centering on support measures for companies, such as tax cuts for investments. Public attention will likely be focused on whether employers raise overall wage scales with support from government measures.
　政府は近く、投資減税など企業支援策を柱とした成長戦略第２弾を打ち出す。政策による後押しを生かし、ベースアップの動きが広がるかどうか、注目される。

(From The Yomiuri Shimbun, Sept. 21, 2013)
（2013年9月21日02時20分  読売新聞）