LDP Begins Discussing Active Spending Measures
Tokyo, Dec. 2 (Jiji Press)--The ruling Liberal Democratic Party has begun considering active fiscal spending measures to put the Japanese economy back on a growth track.
The party's new headquarters for considering fiscal policies, chaired by Shoji Nishida from the House of Councillors, the upper chamber of Japan's parliament, held a meeting of its executives on Wednesday and agreed to hold talks on the issue, including the effects of increased government bond issuance on the market and the advisability of the fiscal soundness target.
The headquarters will compile a proposal by next June, in order to reflect it in the government's annual economic and fiscal policy guidelines, to be set in the middle of next year, as well as the LDP's manifesto for the triennial Upper House election in the summer.
The headquarters was established under the direct control of LDP policy chief Sanae Takaichi after it was proposed by Nishida, who is known as a fiscal dove. Former Prime Minister Shinzo Abe was appointed as its chief adviser.
"We will revive the economy, which has been battered amid the novel coronavirus crisis," Abe said at the meeting, stressing the need for fiscal spending. "We will also protect employment."
[Copyright The Jiji Press, Ltd.]