At a June 24 Cabinet meeting, the Abe government decided on its new economic growth strategy, popularly known as the "third arrow" of "Abenomics."
Salient features include lowering the effective corporate tax rate to between 20 and 30 percent, diverting a larger portion of the Government Pension Investment Fund to equity investment, and reforming regulations in agriculture, employment and medical services.
Also conspicuous in the strategy are measures to cope with the shrinking size of the nation's workforce due to the population graying and the low birthrate. They include getting more women to join the labor force, extending the period of stay in Japan for vocational trainees from abroad, and further diversifying occupational categories for such trainees.