Japan Govt Starts Debates on Growth, Redistribution

Politics

Tokyo, Oct. 26 (Jiji Press)--Japan started debates Tuesday on ways to boost the incomes of the middle class through a virtuous cycle of growth and redistribution, a key policy of Prime Minister Fumio Kishida.

At the first meeting of a new government team to realize Kishida's proposal for creating a new form of capitalism, participants generally agreed on the importance of realizing economic growth and redistribution at the same time.

Kishida told the team to draw up a proposal on priority issues, such as digitalization, greening and the promotion of economic security through the strengthening of supply chains, as soon as early November.

The proposal will be reflected in a package of economic measures to be compiled soon if the ruling bloc led by Kishida's Liberal Democratic Party wins Sunday's election for the House of Representatives, the lower chamber of the Diet, Japan's parliament.

The purpose of the team, headed by Kishida, is to devise ways to shift the country away from market-oriented neoliberalism and distribute the dividends of economic growth throughout the society. It plans to work out a new social and economic vision by spring next year.

[Copyright The Jiji Press, Ltd.]

Jiji Press