Japanese Prime Minister Kishida Addresses Income Inequality; rival Takaichi launches bid

  • Kishida says lack of drip-down benefits of Abenomics
  • Holds to inflation target of 2% if “global standard”
  • conservative Takaichi joins race; would be first female PM
  • Defends frequent visits to controversial Yasukuni Shrine
  • Eyes on chance of popular vaccine minister Kono running

TOKYO, September 8 (Reuters) – Japan should to strive for An new form of capitalism to reduce income inequality die has been exacerbated during the COVID-19 pandemic, Fumio Kishida, who hopes to become the next prime minister, said on Wednesday.

Kishida, a former foreign minister, presented its economic policy as part of the leadership of the Liberal Democratic Party (LDP) race, die began last week after Yoshihide Suga said he would step down. The winner is insured of become Japanese next Prime Minister.

former intern minister Sanae Takaichi joined Kishida in the match, the unveiling of a conservative platform, while popular coronavirus vaccination minister Taro Kono met party heavyweights as he weighs his chances. read more

If Takaichi, 60, manages to overcome long odds, she would become Japan’s first female leader.

Kishida said deregulation during the reform era in the early 2000s widened the gap between the haves and have-nots and that? former prime minister Shinzo Abe’s “Abenomics”, die attempted fix shattered finances by reaching high growth and increasing tax revenues, not result in benefits drip down.

“Without distribution of wealth there won’t be rise in consumption and demand…there won’t go any further growth as distribution of wealth is lost,” said Kishida during a presentation in Tokyo on Wednesday.

“There is no doubt that Abenomics is a major achievement on growth but in terms of distribution of wealth, dripdown hasn’t happened yet.”

Kishida repeated a call for an economic stimulus package and repeated his support for the bank of Japan’s 2% inflation target as “a global standard”.

Kishida also called for institution up a 10 trillion yen ($90 billion) college fund to boost science and promotion of renewable energy, met conservation of nuclear energy power technology, of which he said: should be considered a clean energy option.


Takaichi launched her challenge on policy to strengthen security and help boost the COVID battered economy.

She became the first female intern affairs minister in the second Abe administration in 2014 and local media said he supported her bid and helped her get the 20 legislators die she wants need to formally participate in the competition.

But Takaichi scored badly in popularity ratings, which could hinder her chances.

Who will win the 29 September vote of grass-roots LDP members and party legislators will lead the party in the lower house election die to be held on November 28, which means public addressing an important factor in choosing Suga’s successor.

A member of the partyis the most conservative wing, Takaichi on Wednesday defended her frequent visits to the Yasukuni Shrine, a memorial to the Japanese war dead. Such visits by Japanese leaders infuriate longtime enemies of war such as China and South Korea.

“I am doing this as a Japanese citizen to express my respect and gratitude,” Takaichi said. “It’s my freedom of religion to do that.”

She distanced herself from statements from Japan in the past to apologize for his war aggression, instead highlighting the one proclaimed by the Abe government.

“It said our children’s and grandchildren generations should don’t keep apologizing,” Takaichi said.

She condemned China’s abuses of ethnical minorities in Xinjiang and Tibet and said Japan should protect members of such groups live in Japan who to be facing hazards.

Takaichi also called for legislation to prevent leaks of Advanced technologies out of Japan, and said she would suspend the goal of hitting a primary budget balance to the Bank of Japan’s 2% inflation target was met.

“Sanaenomics has three pillars of bold monetary easing, fiscal spending and investment in crisis management,” Takaichi said. “We will all of to meet the inflation target of 2%.”

Reporting by Tetsushi Kajimoto, Daniel Leussink and Kiyoshi Takenaka; Additional reporting by Antoni Slodkowski; Editing by Michael Perry and John Stonestreet

Our standards: The Thomson Reuters Trust Principles.

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