Prime Minister Shinzo Abe pledged to raise incomes by 3 percent annually and set up special economic zones to attract foreign businesses in the third tranche of measures aimed at boosting growth in the world’s third-biggest economy.
Abe is also considering a push for public pensions and other public funds – a pool of $2 trillion (1.3 trillion pounds) – to increase returns by raising investment in equities, a government draft growth strategy showed, confirming a Reuters report.
The government will seek the view of experts and aim to reach a conclusion by autumn, the draft said. Still, such a move could face opposition from Japan’s risk-averse voters.
Read the rest of the story: Japan’s Abe targets income gains in growth strategy.