A draft plan to boost Japanese growth promises to overhaul corporate governance, promote technology and attract private investment, but it leaves many of the toughest questions unanswered as the country seeks to claw its way out of a crippling cycle of deflation.
The 60-page draft outline of Prime Minister Shinzo Abe’s growth strategy reviewed by Reuters, which has not been made public, gives no details of how and whether the government would cut the corporate tax rate.
Nor does it detail plans to overhaul the nation’s public pension fund, known as GPIF, another of the most closely watched policy measures for investors in Japan’s stock market. Other unanswered questions include whether corporations will be allowed to own farmland and whether companies will get reforms of the labor arbitration process to make it easier to dismiss workers.
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