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Apr 2018

No.46
Economy ,No.46  Apr 06, 2018

Blueprint for the Future of Social Welfare (II) : Limiting State Responsibility to the Guaranteed Minimum

Key Points Japan has lagged behind in terms of human investment because of excessively expanded social insurance. Low-income earners are disadvantaged in terms of the social insurance burden and benefits. Reforms are needed that require middle- and high-income earners to make self-help efforts. The government has published the “New Economic Policy Package”, and drafted the fiscal 2018 Budget  including annual tax reforms, with human resource development as the central pillar. I do not object to this direction, but there has been little analysis and verification of problems in the existing system based on data and evidence. The burden will be forced on children who lack voting rights if the budget deficit increases to improve childcare and education. In this article, I will discuss the tasks and remedies for overcoming the declining birthrate and aging population. Human capital investment is a common issue in advanced ... ... [Read more]

Economy ,No.46
Apr 06, 2018

Blueprint for the Future of Social Welfare (I) : Social Security Cutting Across Policies, Public Finance and Employment

Key Points Policy switches in multiple fields have become an issue in advanced countries. The conversion of Japan’s social security systems to whole-generation social security produced results of a certain level. A future vision for a society to aim for should be clarified. The administration headed by Prime Minister Abe Shinzo has advanced support for women’s employment and working style reforms since 2015 under its slogan of promoting the dynamic engagement of all citizens. In December 2017, the Abe cabinet decided on a package of new economic policies and announced new measures for assisting with childcare and education in the name of human resources development in addition to measures collectively referred to as a productivity revolution. An outline of these measures is provided below. As measures for supporting childcare, the government will uniformly dispense with fees for using authorized facilities, such as kindergartens and ... ... [Read more]

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