The Liberal Democratic Party (LDP) approved on June 3 its campaign pledges for the House of Councillors election, focusing on economic revitalization and realizing a society of dynamic engagement of all citizens through the Abenomics policies. The LDP proposes to postpone the increase of the consumption tax rate to 10% by 30 months and give more support to childcare and nursing care. It promises “to secure stable revenue sources without relying on the issuance of deficit-covering bonds” in response to concerns about revenue shortfall as a result of the tax hike delay.
As part of efforts to realize a society of dynamic engagement, the LDP calls for implementing equal wages for equal work, rectifying long working hours, promoting the employment of senior citizens, and so forth.
The party says that a reduced tax rate for food and other items will also be introduced when the consumption tax rate is raised to 10% in October 2019. In anticipation of the early effectuation of the TPP agreement, the LDP will advance the timetable for achieving the goal of exporting 1 trillion yen worth of agriculture, forestry and fisheries products by 2020, with the aim of making such exports a new source of income.
The LDP uses subdued language with regard to its longstanding policy of constitutional revision, stating that it will “aim for constitutional amendment by making efforts to build a national consensus.”
Main points of the LDP’s campaign pledges for the Upper House election
- Postpone the consumption tax increase to 10% to October 2019; secure revenue sources without relying on deficit-covering bonds
- Realize equal pay for equal work; rectify long working hours
- Eliminate waiting lists of children applying to enter childcare facilities; improve compensation for childcare workers
- Consider lowering the eligibility age for candidates in elections
- Branding of agricultural products; support for the sixth-order industry