Economy of Japan employment system to drive higher wages, on top of monetary and fiscal stimulus. Shinzo Abe has encouraged firms to raise wages by at least three percent annually (the inflation target plus average productivity growth). Shareholder activism is rare despite the fact that the corporate law gives shareholders strong powers over managers. Under Prime Minister Shinzō Abe, corporate governance reform has been a key initiative to encourage economic growth. In 2012 around 40% of leading Japanese companies had any independent directors while in 2016 most all have begun to appoint independent directors. The government's liabilities include the second largest public debt
Shinzō Abe Koizumi. He took some steps toward balancing the Japanese budget, such as appointing a tax policy expert, Kōji Omi, as Minister of Finance. Omi previously supported increases in the national consumption tax, although Abe distanced himself from this policy and sought to achieve much of his budget balancing through spending cuts. Since 1997, as the bureau chief of "Institute of Junior Assembly Members Who Think About the Outlook of Japan and History Education", Abe supported the controversial Japanese Society for History Textbook Reform and the "New History Textbook". In March 2007, Abe along with right-wing politicians have proposed a bill