Editorial

17:19 JST, June 16, 2025

Prime Minister Shigeru Ishiba’s Cabinet has compiled its first comprehensive growth strategy, but it is hard to see a path to strengthening the Japanese economy. The Cabinet should work out the details on concrete measures so that companies boost investment.

The government has approved the Basic Policy on Economic and Fiscal Management and Reform, also known as the “big-boned policy,” at a Cabinet meeting. Besides placing wage increases at the core of the growth strategy, the policy has for the first time set a numerical target of “establishing a trend where real wages rise at about 1%,” in addition to a goal of higher nominal wages.

However, one cannot help but feel that something is lacking. As soon as discussions got down to the details, the only policies that stood out were those that were rehashed from the........

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