Kishida Vows to Start Discussion on New Capitalism Early

Politics

Tokyo, Oct. 12 (Jiji Press)--Japanese Prime Minister Fumio Kishida said Tuesday that his government will start discussions on a new form of capitalism at an early date.

A panel on the matter "will convene at an early date," while the timing and its members are currently under discussion, Kishida said at a plenary meeting of the House of Councillors, the upper chamber of the Diet, the country's parliament.

Kishida, who took office last week, has been pushing for a new form of capitalism to create a virtuous cycle of economic growth and wider wealth distribution.

The prime minister defended his decision to shelve for the time being a plan to increase tax on financial income as a way to ensure wider wealth distribution.

"We're considering various measures regarding wealth distribution. Priorities matter," he said.

[Copyright The Jiji Press, Ltd.]

Jiji Press