TOKYO — Shigeru Ishiba, the newly elected Prime Minister of Japan, delivered his first policy speech to parliament on Friday, vowing to restore public trust in politics following a series of scandals and to address rising living costs affecting citizens nationwide.
At the outset of his address, Ishiba expressed deep regret over a high-profile slush funds scandal that had severely tarnished the image of the ruling Liberal Democratic Party (LDP). “I will restore confidence in politics lost over the issue of political funds,” he declared. “It is the responsibility of politics to rebuild a safe, secure, and prosperous Japan by gaining the understanding and empathy of the people.”
Economic Reforms Amid Inflation
In response to the inflationary pressures weighing on households, Ishiba promised swift action to craft a fresh package of measures aimed at supporting those struggling with rising prices exacerbated by the yen’s depreciation and higher import costs. “It’s necessary that we provide support to those reeling from rising prices until a virtuous cycle of growth and redistribution is certainly in motion, where pay hikes outpace inflation and companies invest proactively,” he stated.
Setting an ambitious economic goal, the 67-year-old former defense minister committed to achieving an average minimum hourly wage of 1,500 yen (approximately $10) across the nation by the end of the 2020s, accelerating the timeline compared to the previous government’s target. The current minimum wage stands at 1,055 yen.
Energy Policy and Nuclear Safety
On the energy front, Ishiba emphasized the need to ensure the safety of nuclear reactors and to establish the optimal energy mix to meet growing demand. This stance marks a shift from his position in last month’s LDP presidential election, where he advocated for reducing Japan’s reliance on nuclear power to zero in favor of greater use of renewable sources.
Diplomacy and Regional Relations
Turning to foreign policy and security matters, Ishiba expressed his willingness to seek “constructive and stable” ties with China through dialogue. He also highlighted the importance of making bilateral ties with South Korea “more robust and wide-ranging,” signaling a commitment to strengthening regional relationships.
Upcoming Parliamentary Sessions and Snap Election
Representatives of the ruling and opposition parties are scheduled to engage in sessions to question Ishiba’s policy statements in the Lower House and the Upper House on October 7 and 8. Demonstrating decisive leadership, Ishiba has announced his intention to dissolve the Lower House on October 9, paving the way for a snap election set for October 27.
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Japan's new PM Ishiba delivers first policy speech since taking office
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