TOKYO -- Japanese Prime Minister Yukio Hatoyama, in his first keynote address to Parliament, Monday said his biggest task is to put the nation's economy on a sustainable growth track, highlighting his strong desire to ensure the country's embryonic recovery takes root.
Mr. Hatoyama also vowed to implement election-campaign pledges to jump-start consumption as well as other initiatives like turning Tokyo's Haneda airport into a 24-hour international hub. He spoke on the first day of an extraordinary parliamentary session scheduled through Nov. 30.
He didn't give details concerning the new government plans to reduce Japan's ballooning public debt while spending money to support the economy, saying only that he will "consider a fiscal-rehabilitation path from the broad, long-term perspective."
Mr. Hatoyama's speech is the latest indication that his Democratic Party of Japan, which last month ousted the rival Liberal Democratic Party from its almost unbroken half-a-century rule, considers it a priority to buttress the nation's recovery from its worst recession since World War II rather than mend the nation's tattered fiscal health.
The world's recent financial and economic crisis "has had a significant impact on the economy and employment and the current situation still requires us to remain alert," Mr. Hatoyama said. "The Hatoyama Cabinet's most important task is to put Japan's economy back on a self-sustaining recovery track driven by private-sector demand and secure sustainable growth while paying attention to international policy coordination."
Mr. Hatoyama offered no target growth rates but said his government will watch economic developments carefully and tackle problems such as possible deterioration in employment and consumer spending, weak regional economies, and tight credit conditions for small companies.
The prime minister said he wants to build an "economy for the people," transforming it into one where growth is generated more by domestic spending than exports. To that end, the DPJ government will implement its pledged measures such as cash aid for families raising children and gasoline tax cuts, he said.
Unlike LDP-led governments, which relied on exports and public works projects to energize the economy, the DPJ administration will focus on helping grow industries such as medical and nursing care, education, agriculture, forestry and tourism to generate jobs, Mr. Hatoyama said.
He sounded critical of market fundamentalism. The idea that a nation should let markets determine everything as a way to bolster growth "no longer works," he said.
A vocal advocate of creating what he calls an "East Asian Community," Mr. Hatoyama said his administration will improve infrastructure to make Japan "an international hub for Asia," such as through the planned transformation of Haneda airport.
Globally, Japan will "lead international negotiations" over cuts in emissions, with its goal of reducing its greenhouse gas emissions by 25% by 2020 from 1990 levels, he said.
While Mr. Hatoyama vowed to revive Japan's growth and at the same time root out wasteful spending, he avoided discussing how he plans to decrease Japan's debt, which stands at 170% of gross domestic product. The debt level, already the highest among industrialized nations, is on track to further expand as the DPJ government is set to sell more bonds to fund its spending plan.
Mr. Hatoyama isn't keen to use the ¥2.93 trillion ($31.82 billion) saved through restructuring the previous government's supplementary budget to pay down debt. His government will spend the funds for "steps that are useful to have the economy recover," Mr. Hatoyama said.
Turning to national security issues, Mr. Hatoyama said he wants to reinforce the Japan-U.S. alliance, but signaled his wish to engage the U.S. on a more equal footing.
A "close and equal" alliance between the two nations is needed to ensure that conflict won't happen in the seas surrounding Japan, he said. "What I mean by equal is a relationship in which Japan can actively make proposals about the role of the U.S.-Japan relationship in ensuring a peaceful, safe world as well as about specific action guidelines, and (still) can cooperate" with Washington on those matters, he said.
In addition, Mr. Hatoyama hinted that the government may not extend Japan's mission in the Indian Ocean of refueling U.S. ships backing troops fighting in Afghanistan beyond the planned January expiration. The government "will not simply make an extension but rather deal with the issue in the broad context of supporting" U.S. activities in Afghanistan, he said.
Mr. Hatoyama didn't commit to a time frame for deciding where to relocate a U.S. military airfield in Okinawa prefecture, only saying the government will "seriously work on" the increasingly contentious issue.
Mr. Hatoyama also vowed to implement election-campaign pledges to jump-start consumption as well as other initiatives like turning Tokyo's Haneda airport into a 24-hour international hub. He spoke on the first day of an extraordinary parliamentary session scheduled through Nov. 30.
He didn't give details concerning the new government plans to reduce Japan's ballooning public debt while spending money to support the economy, saying only that he will "consider a fiscal-rehabilitation path from the broad, long-term perspective."
Mr. Hatoyama's speech is the latest indication that his Democratic Party of Japan, which last month ousted the rival Liberal Democratic Party from its almost unbroken half-a-century rule, considers it a priority to buttress the nation's recovery from its worst recession since World War II rather than mend the nation's tattered fiscal health.
The world's recent financial and economic crisis "has had a significant impact on the economy and employment and the current situation still requires us to remain alert," Mr. Hatoyama said. "The Hatoyama Cabinet's most important task is to put Japan's economy back on a self-sustaining recovery track driven by private-sector demand and secure sustainable growth while paying attention to international policy coordination."
Mr. Hatoyama offered no target growth rates but said his government will watch economic developments carefully and tackle problems such as possible deterioration in employment and consumer spending, weak regional economies, and tight credit conditions for small companies.
The prime minister said he wants to build an "economy for the people," transforming it into one where growth is generated more by domestic spending than exports. To that end, the DPJ government will implement its pledged measures such as cash aid for families raising children and gasoline tax cuts, he said.
Unlike LDP-led governments, which relied on exports and public works projects to energize the economy, the DPJ administration will focus on helping grow industries such as medical and nursing care, education, agriculture, forestry and tourism to generate jobs, Mr. Hatoyama said.
He sounded critical of market fundamentalism. The idea that a nation should let markets determine everything as a way to bolster growth "no longer works," he said.
A vocal advocate of creating what he calls an "East Asian Community," Mr. Hatoyama said his administration will improve infrastructure to make Japan "an international hub for Asia," such as through the planned transformation of Haneda airport.
Globally, Japan will "lead international negotiations" over cuts in emissions, with its goal of reducing its greenhouse gas emissions by 25% by 2020 from 1990 levels, he said.
While Mr. Hatoyama vowed to revive Japan's growth and at the same time root out wasteful spending, he avoided discussing how he plans to decrease Japan's debt, which stands at 170% of gross domestic product. The debt level, already the highest among industrialized nations, is on track to further expand as the DPJ government is set to sell more bonds to fund its spending plan.
Mr. Hatoyama isn't keen to use the ¥2.93 trillion ($31.82 billion) saved through restructuring the previous government's supplementary budget to pay down debt. His government will spend the funds for "steps that are useful to have the economy recover," Mr. Hatoyama said.
Turning to national security issues, Mr. Hatoyama said he wants to reinforce the Japan-U.S. alliance, but signaled his wish to engage the U.S. on a more equal footing.
A "close and equal" alliance between the two nations is needed to ensure that conflict won't happen in the seas surrounding Japan, he said. "What I mean by equal is a relationship in which Japan can actively make proposals about the role of the U.S.-Japan relationship in ensuring a peaceful, safe world as well as about specific action guidelines, and (still) can cooperate" with Washington on those matters, he said.
In addition, Mr. Hatoyama hinted that the government may not extend Japan's mission in the Indian Ocean of refueling U.S. ships backing troops fighting in Afghanistan beyond the planned January expiration. The government "will not simply make an extension but rather deal with the issue in the broad context of supporting" U.S. activities in Afghanistan, he said.
Mr. Hatoyama didn't commit to a time frame for deciding where to relocate a U.S. military airfield in Okinawa prefecture, only saying the government will "seriously work on" the increasingly contentious issue.
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