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