A Finance Ministry panel will propose that the government end protective measures for farmers in a bid to bolster the competitiveness of Japan's agricultural sector ahead of the Trans-Pacific Partnership, ministry sources said.
In a proposal to be finalized by the end of this month, the Fiscal System Council will also urge the Abe administration to make more efforts to cut government spending, including programs to protect the farm sector, the sources said Tuesday.
As Japan's fiscal health is the worst among major industrialized nations, with public debt at more than 200 percent of gross domestic product, "it would be extremely difficult for economic growth alone to realize fiscal consolidation," the proposal says.