The press conference in FCCJ

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Sir Michael Rake, chairman of the UK's leading business lobby, the Confederation of British Industry and chairman of the BT (British Telecom) Group, will give an outside perspective on Abenomics. A veteran of the British business scene over many decades, Sir Michael will offer thoughts on how Prime Minister Shinzo Abe can make his 'third arrow' of deregulation effective, drawing on lessons from the radical measures seen in Britain since the 1980s.

British Telecom was one of the first state companies to be privatised by former British *Prime Minister Margaret Thatcher. While some criticized the move as 'selling off the family silver,' it undoubtedly popularised the concept of the wider shareholder ownership of publicly listed companies, and opened the telcoms sector, at least in theory, to competition, although BT remained by far the most powerful player for many years.

While PM Thatcher's reforms certainly triggered a surge of GDP growth in the UK, and re-oriented the economy away from manufacturing towards services, her legacy has come under greater scrutiny since the Great Financial Crisis of 2008. Prices in the deregulated energy sector have sky-rocketed, the financial sector is in disgrace, and inflation is damaging disposable income.

Sir Michael Rake is an accountant by training and was made chairman of KPMG International in 2002. He has also acquired a number of board positions on a wide range of blue chip corporations. He was appointed chairman of the Confederation of British Industry in 2013, and is regarded as one of Britain's most senior business figures.

Do not miss this opportunity to hear one of the leading businessmen of his generation assess the threats and challenges of services deregulation - and what lessons the UK experience holds for Japan.

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