Kishida, a Japanese prime ministerial candidate, is targeting income disparities; rival Takaichi launches an offer

TOKYO, Sept. 8 (Reuters) – Japan should strive for a new form of capitalism to reduce the income disparity that has worsened during the COVID-19 pandemic, Fumio Kishida said on Wednesday. he hopes to become the next prime minister.

Kishida, a former foreign minister, presented his economic policies as part of the Liberal Democratic Party (LDP) leadership race, which began last week after Yoshihide Suga said he would step down. The winner is confident of becoming the next prime minister of Japan.

Former Interior Minister Sanae Takaichi joined Kishida in the contest, presenting a conservative platform, while popular coronavirus vaccination minister Taro Kono met with the party’s heavyweights as he weighed his possibilities. Read more

If Takaichi, 60, manages to overcome the 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 poor and the poor and that “Abenomics” of former Prime Minister Shinzo Abe, who was trying to fix finances worn out achieving high growth and increasing tax revenue, did not result in falling profits.

“Without the distribution of wealth there will be no increase in consumption and demand … there will be no more growth if the distribution of wealth is lost,” Kishida said in a Tokyo presentation on Wednesday.

“There is no doubt that Abenomics has achieved great success in growth, but in terms of wealth distribution, the drip has not yet occurred.”

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

Kishida also called for the creation of a 10 trillion yen ($ 90 billion) university fund to stimulate science and the promotion of renewable energy, while preserving nuclear energy technology, which he said should be to be considered as a clean energy option.

TAKAICHI JOINS THE RACE

Takaichi launched his policy challenge to strengthen security and help boost the battered economy by COVID.

She became the first female interior minister in Abe’s second administration in 2014 and local media said she supported her candidacy, helping her get the 20 legislative sponsors she will need to formally participate. in the contest.

But Takaichi has been poorly ranked in the popularity rankings, which could hamper his chances.

Whoever wins the Sept. 29 vote from grassroots LDP members and party lawmakers will lead the party in the lower house elections to be held Nov. 28, making public appeal a factor. important in choosing Suga’s successor.

A member of the party’s most conservative wing, Takaichi on Wednesday defended his frequent visits to Yasukuni Shrine, a memorial to Japan’s war dead. These visits by Japanese leaders infuriate former enemies of the war such as China and South Korea.

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

He distanced himself from Japan’s statements in the past apologizing for his aggression in the war, rather than highlighting the one proclaimed by Abe’s government.

“He said generations of our children and grandchildren should not stop apologizing,” Takaichi said.

He condemned China’s abuse of ethnic minorities in Xinjiang and Tibet and said Japan should protect members of these groups who reside in Japan and face threats.

Takaichi also called for legislation to prevent leaks of advanced technologies outside of Japan and said he would leave the goal of achieving a primary budget balance until the Bank of Japan’s 2% inflation target is met.

“Sanaenomics has three pillars of bold monetary moderation, fiscal spending and investment in crisis control,” Takaichi said. “We will mobilize them all to reach the 2% inflation target.”

Reports by Tetsushi Kajimoto, Daniel Leussink and Kiyoshi Takenaka; Additional reports by Antoni Slodkowski; Edited by Michael Perry and John Stonestreet

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