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THE MISSION AND POLICY GOALS OF THE MINISTRY OF FINANCE (FY2010)(Revised edition)

THE MISSION AND POLICY GOALS OF THE MINISTRY OF FINANCE (FY2010)(Revised edition)

(provisional translation)

 

THE MISSION AND POLICY GOALS OF THE MINISTRY OF FINANCE (FY2010)(Revised edition)

 

1.

The Mission of the Ministry of Finance

2.

General Goals

3.

Policy Goals

Policy Goal 1: Maintain stable public finance.

Policy Goal 2: Realize fair and equitable taxation.

Policy Goal 3: Appropriate management of national government assets and liabilities.

Policy Goal 4: Maintain credit to the nation’s currency and credit.

Policy Goal 5: Maintain trade order and promote the sound development of trade.

Policy Goal 6: Promote Stable and sound development of the international financial system and economic and social development in developing countries.

Policy Goal 7~11: Ensure the appropriate management of corporations, operation, etc. under the jurisdiction of the Ministry of Finance.

4.

Organizational and Operational Principles


1.The Mission of the Ministry of Finance

 

Maintain a stable, yet dynamic economy and a peaceful and prosperous society by managing the overall national finances through efficient and transparent administration in the interests of the people as taxpayers, and promote the sustainable growth of the world economy.

 

2.General Goals

 

Maintain confidence in the nation’s currency, maintain a stable, yet dynamic economy and a peaceful and prosperous society, and promote the sustainable growth of the world economy.

 

General Goal 1. In view of the difficult fiscal conditions that Japan currently faces, and from the perspective of boosting its economic growth, enhancing the security of its people, and strengthening their safety nets, efforts should be made to pursue fiscal consolidation and secure confidence in the fiscal policy. To this end, a thorough review should be made with regard to the total budgets covering the general accounts and special accounts, for both revenues and expenditures. In this process, the total expenditure will be allocated intensively to the sectors where budgetary arrangements are highly needed in line with the principle of selection and concentration, while maintaining fiscal discipline. This will be toward achieving fiscal health targets based on the Fiscal Management Strategy, such as halving debt as a percentage of GDP in the basic fiscal revenue and expenditure of both the central and local governments compared to the FY2010 level by no later than FY2015 and returning such debt to the black by no later than FY2020.

 

General Goal 2. Efforts should be promoted toward a fundamental reform of the tax system, in consideration of the severe fiscal conditions, in order to establish a new tax system which can secure revenue sources necessary to build a mutually-supportive society, adapt to socioeconomic structural changes and be trusted by the people.

 

General Goal 3. In light of the economic and financial situations as well as the fiscal conditions, a national debt management policy should be carried out appropriately through close dialogue with the markets, while adequately implementing FILP (Fiscal Investment and Loan Program). In addition, efforts should be made for the appropriate management and effective utilization of national property.

 

General Goal 4. By appropriately ascertaining the current situation of the financial system, an appropriate financial safety net able to respond promptly and accurately to financial crises must be devised and activated with the aim of guaranteeing the stability of the financial system in cooperation with related organizations. Also, the currency system must be operated in an appropriate fashion through correct ascertainment of the state of currency flow and smooth supplying of optimum currency.

 

General Goal 5. In order to contribute to the sound growth of the Japanese economy, efforts should be made for sustainable development of the world economy, stability in international financial systems and development of strengthened systems to achieve such stability, strengthened regional cooperation in Asia, economic and social development in developing countries, and orderly development of international trade through active engagement in international cooperation in regards to global issues. In particular, a "New Growth Strategy" in Asia should be promoted so that Asian countries including Japan will be able to achieve growth all together.

 

General Goal 6. In pursuing the above-mentioned overall goals from 1 through 5, appropriate fiscal and economic management should be ensured in cooperation with related organizations, by using wisdom to create new employment and demand from the perspective of promoting both fiscal consolidation and economic growth, with the aim of contributing to overcoming deflation and realizing stable economic growth.

 

3.Policy Goals

 

Policy Goal 1: Maintain stable public finance.

 

1-1   Improve the efficiency and quality of public finance through prioritized allocations of budget.

 

1-2   Maintain necessary government revenue.

 

1-3   Improve transparency of enforcement of the budget, and maintain the proper enforcement of the budget.

 

1-4   Disclose the information of the nation’s fiscal conditions accurately by compiling the settlement of accounts.

 

1-5   Appropriately implement the operations for revenue and expenditure of the local governments and for the fiscal transfer between the national and local governments.

 

1-6   Establish and properly operate the fair, efficient, and transparent systems of public finance and accounting.

 

 

 

Policy Goal 2: Realize fair and equitable taxation.

 

2-1   Establish a tax system which can build a mutually-supportive society, adapt to socioeconomic structural changes and be trusted by the people.

 

2-2   Assess and collect national taxes fairly and equitably.

 

2-3   Promote the sound development of the alcoholic beverage industry.

 

2-4   Ensure the appropriate management of certified public tax accountants’ operations.

 

 

 

Policy Goal 3: Appropriate management of national government assets and liabilities.

 

3-1  Ensure smooth and stable financing and minimize medium-to long-term financing costs.

 

3-2   Ensure the fund allocations of the FILP (Fiscal Investment and Loan Program) to the FILP agencies to carry out projects necessary for the purpose of the FILP, improve the prioritization and efficiency of its fund supply, and disclose information thoroughly.

 

3-3   Ensure the appropriate management and effective utilization of national property, and utilize an electronic data processing system for accurately keeping up on the current conditions of the national property and improving the disclosure of information.

 

3-4   Promote optimal use of government buildings and housing for central government officials.

 

3-5   Manage the treasury cash efficiently and accurately.

 

 

 

Policy Goal 4: Maintain credit to the nation’s currency and credit.

 

4-1   Ensure the smooth supply of the bank of Japan notes and the coins, and suppress the counterfeit or altered currency.

 

4-2   Set up and operate an appropriate financial safety net, and respond promptly and accurately to financial crises.

 

 

 

Policy Goal 5: Maintain trade order and promote the sound development of trade.

 

5-1   An appropriate tariff rate must be implemented, together with improvements to the customs system and other measures that take into account domestic and international economic conditions.

 

5-2   The multilateral trading system must be strengthened; economic partnerships and international harmonization of customs procedures, etc. in the customs field must be promoted; and facilitation of international trade within the Asia-Pacific region must be promoted.

 

5-3   It is necessary that customs duties be properly imposed and collected, smuggling of illegal drugs, firearms, and other anti-social contrabands be prevented, and convenience in customs procedures be improved.

 

 

 

Policy Goal 6: Promote stable and sound development of the international financial system and economic and social development in developing countries.

 

6-1   Stability in foreign exchange markets must be ensured, and systems to stabilize international financial systems must be strengthened and the appropriate operation thereof be ensured.

 

6-2   Promote a wide variety of international cooperation, including financial support and technical assistance, to help developing countries stably develop their economy and society.

 

6-3   Promote Asian Economic Strategy (The New Growth Strategy)

 

 

 

Policy Goal 7~11: Ensure the appropriate management of corporations, operation, etc. under the jurisdiction of the Ministry of Finance.

 

7-1   Appropriate and efficient management of government financial institutions, etc. must be ensured.

 

8-1   Manage the sound operations of the earthquake reinsurance.

 

9-1   Create and manage the stable and efficient national public service personnel mutual AID system, etc.

 

10-1   Ensure the appropriate management of the operations and organization of the Bank of Japan.

 

11-1   Promote the sound progress of the tobacco and salt industries, and ensure their appropriate management.

 

4.Organizational and Operational Principles  

 

Implement administrative management that is effective, efficient and highly transparent, backed up by advanced expertise, and establish organizations necessary therefor.

 

1    Fulfill its functions of policy planning and coordination.

 

2    Develop and maintain highly professional, capable and principled human resources.

 

3    Provide and disclose information to the people and the market and collect opinions.

 

4    Promote information and communications technology in the administration towards the realization of the "electronic government".

 

5    Ensure effective and efficient administrative management through a steady policy evaluation and a review of the operational procedures and the corporations under the jurisdiction of the Ministry of Finance.

 

 

 

 

The Policy of MOF
Budget
Tax Policy
Customs & Tariff
Japanese Governments bonds
Fiscal Investment and Loan Program

Exchequer

Currency

Property


International Policy
Financial System Stabilization
Policy Research Institute