Finance Minister Masajuro Shiokawa said Friday that the Finance Ministry and a key policy-setting council will establish a joint panel tasked with promoting a shift of funds from the public to the private sector.

“The flow of funds should be shifted from the public sector to the private sector,” Shiokawa told a news conference. “This is only a matter of course. We must study the flow of public funds.”

Shiokawa’s comments came after private-sector members of the Council on Economic and Fiscal Policy said during a meeting Wednesday that the volume of funds directed to the public sector is expanding — and that action should be taken to stop the trend.

Shiokawa said that two of the private-sector council members — Osaka University professor Masaaki Homma and University of Tokyo professor Hiroshi Yoshikawa — will join the panel.

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