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POLITICS

Fiscal turnaround a major issue in LDP presidential election

  • June 19, 2018
  • , Yomiuri , p. 4
  • JMH Translation

Prime Minister Shinzo Abe, who is also the president of the ruling Liberal Democratic Party (LDP), said, “There will be no fiscal health without economic recovery,” underscoring his intention to aim for balancing economic growth and financial reconstruction. He made the remark during a House of Councillors Audit Committee meeting on June 18. Post-Abe candidates are attaching importance to the restoration of fiscal health. Given this, the issue will likely be a major point of contention in the LDP presidential election scheduled for September.

 

The following are major opinions in LDP on fiscal soundness:

 

Prime Minister Abe

(LDP president)

There will be no fiscal health without economic recovery. We will promote economic growth and also increase tax revenue. A flexible fiscal stimulus is occasionally necessary as a judgement and will also contribute to the restoration of fiscal health in the future.

 

(At a House of Councillors Audit Committee meeting on June 18.)

Fumio Kishida

(LDP policy chief)

Rising interest rates will expand the percentage of debt repayment in the budget. We shouldn’t let Japan go into a decline in the generations of our children and grandchildren. The sustainability of finances is being tested.

 

(During a speech in Kagoshima City on June 16.)

Shigeru Ishiba

(Former LDP Secretary-General)

(Economic) growth is only possible by a thorough review of finances. He [Abe] says, “There will be no fiscal health without economic recovery.” But he will have to show how to grow and reform the economy, or his efforts for achieving fiscal health will be questioned.

 

(At a press conference in Tokyo on June 15.)

Seiko Noda

(Internal affairs minister)

[Bank of Japan Gov. Kuroda’s] different dimension (monetary easing policy) is momentary. I wonder if it’s alright to continue monetary easing for the economy. I take it for granted that we should achieve financial reconstruction.

 

(At a party she held in Tokyo on June 11.)

Wataru Takeshita

(LDP General Council chairman)

To rebuild the nation’s finances, we should take a balance of three measures–increasing tax revenue by economic growth, raising taxes, and cutting budgetary spending. The government is now struggling in doing that.

 

(At a press conference on June 15.)

(Abridged)

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