Abe to pledge steps to pull Japan out of deflation in policy speech
Japanese Prime Minister Shinzo Abe arrives before the start of the Association of Southeast Asian Nations (ASEAN) summit in Bandar Seri Begawan, Brunei, Wednesday, Oct. 9, 2013. (AP Photo/Vincent Thian)
Published Monday, October 14, 2013 9:34PM EDT
Last Updated Monday, October 14, 2013 9:51PM EDT
TOKYO -- Prime Minister Shinzo Abe is set to open Parliament in a speech Tuesday pledging more reforms and economic measures to fully pull Japan out of its long period of deflation.
Abe is expected to push further deregulation, reforms and other steps to encourage household spending and investment, including some aimed to offset the impact of the consumption tax increase in April to 8 per cent from the current 5 per cent.
In his policy speech, he will also propose controversial plans to boost national security and participation in peacekeeping efforts around the world.
Japan's Parliament is returning from a recess that followed a sweeping upper house election victory by Abe's ruling party in July. It gave his coalition bloc the majority in both houses, lowering hurdles for his government to pass key legislation.