Opposition CDP Vows to Address Yen's Drop, Rising Prices

Politics

Tokyo, April 27 (Jiji Press)--The main opposition Constitutional Democratic Party of Japan on Wednesday highlighted fight against the yen's rapid weakening and rising prices as a key policy task ahead of this summer's House of Councillors election.

Announcing its key policies before the election for the upper chamber of the Diet, Japan's parliament, the CDP said it aims to prevent gasoline and wheat prices from rising further and lower the consumption tax to 5 pct from the current 10 pct temporarily.

The CDP also underlined a need to change the Bank of Japan's superloose monetary policy, claiming that the yen's drop is a consequence of the Abenomics reflationist policy mix of former Prime Minister Shinzo Abe.

The three pillars of the CDP's key policies are fighting rising prices, making education free of charge and ensuring national security.

"We must work out concrete national security policy measures from the viewpoint of ordinary citizens," CDP leader Kenta Izumi told a news conference.

[Copyright The Jiji Press, Ltd.]

Jiji Press