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Tokyo Skyline

Talks of Pushing Deregulation in Tokyo ahead of the Olympics

NHK reports that private sector members of the Council on Economic and Fiscal Policy plan to present a proposal at the next meeting of the council (to be held on 13 September) calling for the establishment of Tokyo as a special regulatory zone as part of the planning for the 2020 Olympic Games.

LDP to Proceed with Diet Reform this month

The Nikkei Shimbun reports that the Liberal Democratic Party (LDP) will proceed with Diet reform plans this month. The objective of the reform is to lighten the burden of the Prime Minister and the Cabinet through measures such as increasing the time Vice-Ministers answer questions at the Diet, and to establish a cap on the deliberation time of Diet committees. 

Cabinet Office Announces Revised GDP

Cabinet Office Announces Revised GDP

According to data released by the Cabinet Office today, Japan’s gross domestic product (GDP) during the April-June period was on a quarter-to-quarter basis revised up to a 0.9 percent increase from a preliminary 0.6 percent. This amounts to an annualized 3.8 percent expansion from a preliminary 2.6 percent increase. 

Yoshide Suga

Continuity for a change?

At a press conference yesterday, Chief Cabinet Secretary Yoshihide Suga revealed that no reshuffle of ministers posts will take place in a while and that Prime Minister Abe wants to keep his team "as is" at least until the end of the next ordinary Diet session, scheduled to end in Mid-June 2014.  

Ministry of Economy, Trade and Industry (METI)

Liberalization of Gas Supply Expected in 2016

The Yomiuri Shimbun reports that the Ministry of Economy, Trade and Industry (METI) plans to move forward with liberating the gas market for households in 2016. In doing so, the ministry is hoping that the increased competition in the market will lead to decreased prices and enhanced services.

Special Advisory Panel Backs Consumption Tax Hike

Special Advisory Panel Backs Consumption Tax Hike

According to the Nikkei Shimbun, more than 70% of the members of a special advisory panel believe that the consumption tax should be increased as planned. Eight people sought a change in the gain increase citing the possible adverse effects on efforts to tackle deflation, and six people proposed an extension or opposed a tax hike entirely.