FOCUS: To Review Abenomics or Not Seen as Key Issue in LDP Race

Politics

Tokyo, Sept. 11 (Jiji Press)--Whether to review Abenomics is a major issue on the economic front in the leadership race at Japan’s ruling Liberal Democratic Party.

Three LDP lawmakers who have announced their bids to run in the race are calling for the formulation of a growth strategy. Of the two, former Internal Affairs and Communications Minister Sanae Takaichi is seeking bolder government spending, while the other two--regulatory reform minister Taro Kono and former LDP policy chief Fumio Kishida stress the need to raise wages and correct the economic disparities.

Abenomics, the economic policy mix of former Prime Minister Shinzo Abe, comprises “three arrows”--bold monetary easing, timely fiscal spending and a growth strategy that spurs private-sector investment. Current Prime Minister Yoshihide Suga, who succeeded Abe in September 2020 and is set to quit soon, took over the reflationary economic policy from the predecessor.

At a press conference Friday to announce his plan to run in the Sept. 29 LDP presidential election, Kono said that he will continue trying to promote economic growth through regulatory reforms.

Kishida has announced his economic policy package centering on an income-doubling plan that puts emphasis on narrowing the gaps between the haves and the have-nots, specifically vowing to help cover costs of education for child-rearing families and to reduce costs related to housing.

[Copyright The Jiji Press, Ltd.]

Jiji Press