Arrow or Dart? Japan's Abe unveils latest reform plan
Published on Jun 24, 2014 9:09 PM
TOKYO (REUTERS) - Prime Minister Shinzo Abe unveiled a package of measures on Tuesday aimed at boosting Japan's long-term economic growth, from phased-in corporate tax cuts to a bigger role for women and foreign workers, but applause from investors is likely to be muted after Tokyo backpedalled on bolder reforms.
Japan's economy has shown signs of revival since Mr Abe took office 18 months ago pledging to end deflation and generate sustainable growth with a triple-pronged strategy he called his"Three Arrows", but policymakers acknowledge that more must be done to cement the recovery after two decades of stagnation.
"There are no taboos or sacred cows for my growth strategy,"Mr Abe told a news conference after the measures were approved by his cabinet.
He stressed that a "positive cycle" was emerging as rising corporate earnings lead to higher wages, but that the recovery had yet to spread to the regions.
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