The Abe administration plans to draw up a bill to help Japanese industry compete globally as a pillar of its growth strategy to fight deflation, according to sources.
The bill, to be submitted to the Diet this autumn, will aim to streamline sluggish businesses and prompt companies to enter new fields by offering tax breaks, the sources said Thursday. It will also provide support for people who want to change careers.
The growth strategy, expected to comprise around 30 items, including the use of private funds for public works projects and creating special economic zones, is one of the "three arrows" of Prime Minister Shinzo Abe's campaign strategy, along with aggressive monetary easing and flexible fiscal spending.