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with America. Those are the latest headlines from | :00:00. | :00:08. | |
BBC World News. Now for the latest financial news with Sally. | :00:09. | :00:25. | |
Shinzo Abe prepares to cut Japan's corporation tax ` one of the highest | :00:26. | :00:31. | |
in the world. And deregulate the labour market. And, Dad's the word ` | :00:32. | :00:34. | |
the rise of stay`at`home fathers in America. | :00:35. | :00:39. | |
Welcome to World Business Report. I'm Sally Bundock. Also in | :00:40. | :00:46. | |
programme, we'll look at the Sri Lankans being forced from their | :00:47. | :00:49. | |
homes in the name of progress. But first, they call it 'Abenomics' | :00:50. | :00:52. | |
` Shinzo Abe's road map to restoring Japan's economic prowess. Later | :00:53. | :00:57. | |
today, the Prime Minister will detail his reforms designed to make | :00:58. | :01:00. | |
Japan a better place to do business. That's expected to include cutting | :01:01. | :01:03. | |
one of the highest corporation tax rates in the world. We're also | :01:04. | :01:10. | |
expecting less bureaucracy and red tape in the labour market and a | :01:11. | :01:14. | |
range of sectors such as night clubs and dance halls, and reduced visa | :01:15. | :01:16. | |
requirements for foreign firms wanting to start up in Japan. This | :01:17. | :01:23. | |
is known as the third arrow in Abe's plan to get Asia's second biggest | :01:24. | :01:26. | |
economy in better shape. Is it working? Seijiro Takeshita is a | :01:27. | :01:32. | |
Senior Strategist at Mizuho International. | :01:33. | :01:40. | |
Let's begin with some of the key elements, the deregulation of the | :01:41. | :01:43. | |
labour market, the corporation tax coming down. To what extent will | :01:44. | :01:48. | |
this help the Japanese economy? It will help a lot, especially | :01:49. | :01:55. | |
considering the moment involved. There is spending by the | :01:56. | :01:58. | |
corporatist, and to have enterprise tax reduction would not only | :01:59. | :02:02. | |
increased momentum but induce foreign direct investment back into | :02:03. | :02:06. | |
Japan. That will hold a lot of Japanese companies going out of | :02:07. | :02:12. | |
Japan as well `` halt. That will kill three birds with one stone. As | :02:13. | :02:17. | |
you mentioned, these things do not happen right way, but it is a basic | :02:18. | :02:22. | |
foundation for Japan's future. It is very important. He is taking on some | :02:23. | :02:29. | |
unpopular areas as well, like the farming community. That adds 1% to | :02:30. | :02:36. | |
Japanese GDP. What is he planning there? He is planning to tackle | :02:37. | :02:42. | |
investment interest. If he succeeds, I will praise him highly. The reason | :02:43. | :02:46. | |
for this is that we have not seen this for decades. Farming | :02:47. | :02:50. | |
Association, for example in Japan, as you said, they make up 1% of GDP | :02:51. | :02:55. | |
but hold up 4% of the population. They have the votes. They have an | :02:56. | :03:03. | |
extra power in Japanese politics. They can open up Japan, and the | :03:04. | :03:08. | |
Trans`Pacific Partnership, all of these regulations and international | :03:09. | :03:15. | |
strategies that he wants to do, if he tackles walls like them, it would | :03:16. | :03:18. | |
have a smooth inclination in years ahead. How is Abenomics working? We | :03:19. | :03:24. | |
have seen the yen, down in value, sales tax go up, and today's | :03:25. | :03:32. | |
announcements, it working? Japanese courts are coming back on track, I | :03:33. | :03:36. | |
think the market and the people are too hesitant about the results of | :03:37. | :03:40. | |
the third arrow, as we said, these are structural and conditional | :03:41. | :03:44. | |
issues, it will take a long time, as early as next year, and people are | :03:45. | :03:48. | |
expecting results. Either way, the Japanese, especially in | :03:49. | :03:55. | |
macroeconomic situation is, they will improve by the end of the year. | :03:56. | :03:59. | |
Thank you very much for your time, and when we get the full | :04:00. | :04:03. | |
announcement Shinzo Abe, we will update you. | :04:04. | :04:07. | |
Let's now go to the United States. `` the full announcement from | :04:08. | :04:13. | |
Abenomics. `` the full announcement from Shinzo Abe. | :04:14. | :04:17. | |
In the United States, the number of full`time fathers has doubled in a | :04:18. | :04:22. | |
generation. Initially men laid off from their jobs in traditional | :04:23. | :04:24. | |
industries like car`making took over running the home while their wifes | :04:25. | :04:28. | |
and partners worked. But, as Samira Hussain reports, increasingly it's a | :04:29. | :04:30. | |
lifestyle choice. It is no special treat to have these two dads racing | :04:31. | :04:34. | |
cars with their sons on a weekday afternoon. While their wives are at | :04:35. | :04:40. | |
work, they take care of their little boys. The two stay at home dads. It | :04:41. | :04:45. | |
was very important for us, over the first couple of years, to have one | :04:46. | :04:50. | |
of us at home. It was a natural fit for it to be me. I went Tin | :04:51. | :04:55. | |
extremely nervous. With a lot of reservations. `` I Win Tin. I didn't | :04:56. | :05:01. | |
know if I would embrace my role. Six years and is leaving his role as a | :05:02. | :05:06. | |
public school teacher, he has no regrets. It helps that more fathers | :05:07. | :05:10. | |
are taking on what has long been considered as woman's work. The | :05:11. | :05:13. | |
number of fathers who stay at home with their children has doubled in | :05:14. | :05:22. | |
the last 25 years. In 1989, there were 1.1 million stay at home dads. | :05:23. | :05:27. | |
Now that is 2 million. Increasingly, the dads who have chosen to stay at | :05:28. | :05:31. | |
home have done so to care for the family. Four other men, factors like | :05:32. | :05:37. | |
not being able to find a job or a disability has led them to stay at | :05:38. | :05:41. | |
home. Despite these advances, there is still a perception that staying | :05:42. | :05:45. | |
at home with the kids, is the mother 's job `` for other men. There is | :05:46. | :05:50. | |
this idea traditionally that mothers are more caregivers then dad. `` | :05:51. | :05:58. | |
than fathers. But 41% of the public think that coming a stay at home | :05:59. | :06:06. | |
mother is give the kids, only 8% say the same about dads. We live in New | :06:07. | :06:13. | |
York City, you do not see that many does, especially nine years ago, | :06:14. | :06:18. | |
pushing a stroll down the street, 10am on a Tuesday morning. I felt | :06:19. | :06:22. | |
that the world was judging me, I felt that the world was looking at | :06:23. | :06:26. | |
me. Really, in the end, in most places, people really do not care | :06:27. | :06:28. | |
what you are doing. What better listen to teach his own two boys? | :06:29. | :06:44. | |
In other business stories, France is bracing itself for another day of | :06:45. | :06:47. | |
travel disruption. One of the main two unions representing air traffic | :06:48. | :06:49. | |
controllers is holding a six day strike. The SNCTA called off its | :06:50. | :06:52. | |
protest against planned government cuts in what is being seen as a | :06:53. | :06:55. | |
climb`down. The Civil Aviation Authority says it expects three | :06:56. | :06:57. | |
quarters of flights to operate despite the action. | :06:58. | :07:01. | |
South African mining union AMCU is set to sign a new wage deal with | :07:02. | :07:04. | |
platinum companies on Tuesday, ending the longest strike in the | :07:05. | :07:07. | |
country's history. Miners walked off the job in January in a dispute over | :07:08. | :07:11. | |
pay. The world's biggest Platinum producer Lonmin and its peers have | :07:12. | :07:15. | |
agreed to raise average wages by 20 per cent over three years ` | :07:16. | :07:24. | |
equivalent to an extra $94 a month. Since the end of the civil war, the | :07:25. | :07:28. | |
physical face of Sri Lanka's commercial capital Colombo has been | :07:29. | :07:31. | |
radically changed. As part of what the government calls | :07:32. | :07:32. | |
"beautification", long`standing low`income areas are being | :07:33. | :07:34. | |
demolished to make way for prestige developments. It is like a mini Sri | :07:35. | :07:48. | |
Lanka, in the beating heart of the city. In Slave Iskand, Muslims, | :07:49. | :07:55. | |
Buddhists, Christians and Hindus, jostle side`by`side. Life is lived | :07:56. | :07:58. | |
on the streets and in the alleyways. Most people here do not | :07:59. | :08:01. | |
have a lot of money but value their way of life. This woman from the | :08:02. | :08:07. | |
ethnic Malay minority watches the world go by. Now 65, she was born in | :08:08. | :08:12. | |
the same house which now shelters her large family. She is unhappy, it | :08:13. | :08:19. | |
has been earmarked for demolition. I do not want to go, I want to stay in | :08:20. | :08:31. | |
Slave Iskand, she says. `` Slave Island. They want a Colombo that can | :08:32. | :08:35. | |
rival Singapore. They want to demolish these lands the commercial | :08:36. | :08:38. | |
purposes. In recent months, entire streets of those small intimate | :08:39. | :08:42. | |
houses have been flattened. That results in this. Luxury high`rise | :08:43. | :08:52. | |
flats and hotels have come up, like these mushrooming in the city. Slave | :08:53. | :08:56. | |
Island includes India's Tater, and in the suburb of more modest flats | :08:57. | :09:00. | |
from people evicted from Slave Island, like this man and his | :09:01. | :09:03. | |
family, they were displaced some years ago. He says it is nice that | :09:04. | :09:07. | |
they're old neighbours have moved here, but they got no payment for | :09:08. | :09:12. | |
their old house, but a small sum towards rent. Some human rights | :09:13. | :09:16. | |
campaigners say that the people of Slave Island are being unwillingly | :09:17. | :09:21. | |
forced out with no consultation, the urban development authority is run | :09:22. | :09:25. | |
by the powerful defence Ministry, people fear protesting. The | :09:26. | :09:28. | |
authorities say that the move from houses to flats is natural. In the | :09:29. | :09:35. | |
second generation, people will get used to that situation, it happened | :09:36. | :09:42. | |
in Singapore and in other countries, it is normal social behaviour. They | :09:43. | :09:48. | |
have promised to build flats for the locals, where the old houses were, | :09:49. | :09:52. | |
next to the new luxury blocks. That will help them keep something they | :09:53. | :09:57. | |
treasure about Slave Island, its centrality, but the architectural | :09:58. | :10:02. | |
heritage and unique atmosphere is passing into history. | :10:03. | :10:12. | |
We have a mixed session emerging, Japan are down slightly. That is | :10:13. | :10:15. | |
everything from World Business Report, I will see you soon. | :10:16. | :10:28. | |
We are going to have a look at the newspapers in a moment, but first, | :10:29. | :10:34. | |
let's talk about the living wage commission. It is recommending that | :10:35. | :10:40. | |
measures be taken to cut the number of low`paid workers by one million, | :10:41. | :10:43. | |
to end the national scandal of poverty. A year`long study by the | :10:44. | :10:46. | |
Commission recommends a series of moves to tackle low pay, but stops | :10:47. | :10:48. | |
short of making it | :10:49. | :10:50. |