Japan’s revitalisation strategy

The government unveiled its draft of a revitalisation plan for Japan last Wednesday. The strategy sets out a broad range of policies to lift economic growth, end deflation and create over four million jobs by 2020. However, at this stage it is little more than a shopping list of policies and there is no guarantee that it will pass into law, even if the strategy is approved by the Cabinet. The drawn-out process and difficulty implementing an increase in the consumption tax acts a recent reminder that even the best laid plans often go astray.