Japan panel to seek public opinion on fiscal situation

February 5, 2019

Tokyo--A Finance Ministry panel has decided to seek public opinion on fiscal administration for the first time, in a move that reflects the panel's sense of urgency in restoring the country's fiscal health.

The Fiscal System Council, which advises the finance minister, will seek opinions from the public until April 5, in written form within 1,000 Japanese characters, a subcommittee of the council decided at a meeting on Monday.

Last November, the Fiscal System Council criticized Japan's fiscal administration during the Heisei era for inflicting a severe fiscal situation on future generations by continuing to issue government bonds.

The 30-year Heisei era is set to end on April 30 with Emperor Akihito's abdication.

By inviting public opinion, the council hopes to share with the public a strong sense of urgency and the need to restore fiscal health steadily.

The opinions will be used as a reference in the panel's discussions and may be reflected in its future proposals.

"As Japan's fiscal situation becomes increasingly complicated, it is important to promote efforts that allow the people to take center stage again," said Hiroya Masuda, acting chairman of the council subcommittee, at a press conference after Monday's meeting.

Also at the subcommittee meeting, many members called for an immediate improvement to the issue of survey data flaws at the labor ministry.

"If the economic outlook becomes inaccurate because of the survey data flaw, people will begin to lose faith in the grounds for policy making," one member stressed. Jiji Press