Not only have Japan’s ruling LDP party been busy trying to reform the $1.3tn pension fund GPIF, they’ve also been making recommendations to further lift Japan’s growth. On the list of ideas containing cutting corporate taxes and reforming public pensions they want to increase the number of professional baseball teams to 16 from 12.
“Prosperous baseball teams could strengthen attachment to regional cities and help local economies thrive,” said the report
Baseball is popular in Japan but most teams run at a loss and can only survive usuing tax deduction schemes against sponsorship. One expert wasn’t overly enthusiastic that the idea would boost growth.
“Unless there are companies that are willing to sponsor the new teams, this could be difficult. Without a solid financial foundation, it would be hard to poach good players and balance the strength of the teams.” said Munehiko Harada, professor at the faculty of sport sciences of Waseda University.
Full story from Reuters here
