[National Federation of Lifestyle Industry and Consumer
Organizations] Aiming to make national finances visible, Seidanren handed over “proposals for alleviating people’s concerns about the future” to Chief Cabinet Secretary Yoshimasa Hayashi
*View in browser* *National Federation of Lifestyle Industry and Consumer Organizations* Press release: June 4, 2024
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Aiming to make national finances more visible, Seidanren handed over “proposals to relieve people’s concerns about the future” to Chief Cabinet Secretary Yoshimasa Hayashi
*Calls for the introduction of a “three-year multi-annual budget system” and the establishment of an “independent financial
institution”*
(Photo left: Chief Cabinet Secretary Yoshimasa Hayashi; right: Chairman Kentaro Ogawa)
In 2018, Seidanren launched the “National Finance Visualization Committee” to “visualize” the unclear national finances that lead to people’s concerns about the future, and to develop appropriate and strategic measures that contribute to sustainable growth. We continue our activities with the aim of achieving sound financial management. This time, with the title * “Proposals to Alleviate People’s Anxiety about the Future”*, we have proposed the introduction of * a “3-year multi-annual budget system”* and * an “independent financial institution”*.
We handed over a proposal to Chief Cabinet Secretary Yoshimasa Hayashi requesting the establishment of a new system.
Chief Cabinet Secretary Yoshimasa Hayashi said, “We have set up a fund so that we are not tied to a single year’s budget.* A multi-year budget will eliminate wasteful spending.*
In recent years, some members of Congress have advocated the MMT theory (*1), but it cannot be said that no matter how much debt we borrow, it is a good idea. In order to show this to the people, * The Diet League (*2) is proceeding with discussions toward the establishment of an independent financial institution. *” was said.
*1 Modern Monetary Theory: A government that issues its own currency does not need to worry about budget deficits unless there is a concern about high inflation.
*2 A bipartisan group of members considering an independent fiscal estimation agency
・Seidanren “Proposals for alleviating people’s concerns about the future” The outline of the recommendations is as follows.
“We call for drastic structural reforms to the budget system and to rectify the harms of the single-year system.”
1. Request the introduction of a “three-year, multi-year budget system”* that will realize a virtuous cycle of growth and
distribution*
1. Establishing a medium-term fiscal framework to carry out fundamental structural reforms
2. Setting a ceiling (expenditure limit) to prevent wasted tax money 2. Request the establishment of an “independent financial
institution”* that will serve as the eyes of the people to monitor the government.
1. Future projections based on actual conditions
2. Monitoring of financial management
3. Dissemination of objective information to the public
Click here for details on the proposal
・What is Seidanren?
It was established as the first organization in Japan to unite over 700 companies, industry organizations, consumer groups, NPOs, etc. with the mission of “protecting the lives and livelihoods of the people.” Unlike industry and economic organizations, as a “national organization” that tackles national issues such as emergency response, national finance, acceptance of foreigners, energy issues, disaster response, and gender mainstreaming, we conduct research and research from a “consumer perspective.” We are developing “practice” and “discussion and dissemination.” The chairman is the representative director and chairman of Zensho Holdings Co., Ltd.
Kentaro Ogawa is also the president.
●Homepage: https://www.seidanren.jp/
●YouTube channel: https://www.youtube.com/@user-yd3ji6uz6j
●X: https://twitter.com/seidanren_2011
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