A concrete plan is needed to shift the emphasis on shareholders to “new capitalism” = Hara, former Special Advisor to the Cabinet | Reuters

Mr. Joji Hara, who advocated an economic policy close to the idea of ​​”new capitalism” advocated by Prime Minister Fumio Kishida and served as a member of the Cabinet Office during the Shinzo Abe administration, changed the emphasis on shareholders to increase the income of the people, and companies He insisted that employees and society should be encouraged to return profits. The photo is Mr. Hara, who is interviewed by Archyde.com. Taken in Tokyo on April 1st (2022 Archyde.com / Kaori Kaneko)

[Tokyo 4th Archyde.com]— Mr. Joji Hara, who advocated an economic policy close to the idea of ​​”new capitalism” advocated by Prime Minister Fumio Kishida and was a member of the Cabinet Office during the Shinzo Abe administration, is how to increase the income of the people. He argued that the emphasis on shareholders should be changed and that companies should be encouraged to return profits to employees and society. After that, he urged the Council of Experts, which was set up by Prime Minister Kishida, to discuss more concrete measures to realize “income doubling.”

Mr. Hara, who appeals for a shift from “shareholder capitalism” to “public interest capitalism,” has been interacting with him since he was Foreign Minister. It is said that he influenced Mr. Kishida’s economic policy “new capitalism” that emphasizes distribution.

In an interview with Archyde.com on the 1st, Mr. Hara pointed out that the structural reforms and deregulation that the past administration had been working on did not raise the income of the people. He said it would benefit investors seeking short-term rewards, and argued that it should be distributed to a wider range of stakeholders, including employees, communities and long-term shareholders. Mr. Hara said, “We should return the profits we made to our employees and society. Prime Minister Kishida thinks so too.”

Mr. Hara said that the Kishida administration’s “New Capitalism Realization Conference” launched in October last year did not come up with a concrete plan to enrich the people, and “I heard that there are quite a few people who think that it is disappointing.” I feel it. ” “There will be a lot of shareholder capitalist thinking,” he said, and Prime Minister Kishida said he was waiting for a plan to “double his income.”

Mr. Hara pointed out that the review of quarterly financial results disclosure, which Mr. Kishida made in his pledge for the LDP presidential election last year, has not progressed in the direction expected by the prime minister. “I proposed to Prime Minister Kishida and made a pledge. I don’t explicitly advocate abolition within the LDP right now, and I think Mr. Kishida is annoyed.”

Regarding the Bank of Japan’s monetary policy, he said that if the interest rate differential widens, the yen may depreciate further, and he said that it is better to cooperate with the US and Europe, which have entered the interest rate hike phase, and it is time to consider an exit policy. He showed his recognition. Hedge funds and high-speed trading investors are the victims of interest rate hikes, while “Japan is aging, so many people live on pensions and savings. Interest rates are zero. The fact that the condition was too long is a minus. “

In addition, Mr. Hara said that civil engineering, disaster prevention, and medical infrastructure development would require 10 trillion yen in five years, for a total of 50 trillion yen. The financial resources will be “public interest government bonds” for individuals, and household financial assets of 2000 trillion yen will be sufficient.

(Kaori Kaneko, Yukiko Toyoda Editing: Nobuhiro Kubo)

* The photo has been replaced.

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