Political leaders of ruling parties and opposition in Japan say wealth distribution is key to boosting economy

The political leaders of the ruling and opposition parties, in a television broadcast on Sunday, stressed the need to promote the distribution of wealth in order to revive the economy, which has been damaged by the coronavirus pandemic.

This is apparently because Prime Minister Fumio Kishida aims to launch a new system of capitalism supported by a virtuous circle of growth and distribution and also because the October 31 elections to the House of Representatives are approaching.

Liberal Democratic Party policy chief Sanae Takaichi addressed reporters at the prime minister’s office on Thursday. | KYODO

Sanae Takaichi, head of policy of the ruling Liberal Democratic Party, said of the NHK platform that the party will work to provide benefits to those in need and improve the usability of the subsidy program. government to support businesses.

“A majority of people support the idea of ​​promoting the distribution,” Takaichi said. “Unless consumer confidence improves, we cannot expect tax revenues to increase. “

Yuzuru Takeuchi, political chief of Komeito, a coalition partner of the PLD, said that the party, in addition to its proposal to distribute 100,000 yen per child aged 18 or under, called for giving reward points to ‘worth tens of thousands of yen to My Number holders. social and fiscal identity card.

Kenta Izumi, political leader of the main opposition party, the Constitutional Democratic Party of Japan, said the economy was not doing well because distribution was insufficient. “Concrete measures to promote distribution will make a difference,” said Izumi, seeking to temporarily lower the consumption tax from 10% to 5%. To make up for the shortfall, Izumi proposed issuing government bonds covering the deficit and increasing corporate taxes and financial income.

Tomoko Tamura, political leader of the Communist Party of Japan, insisted that the Abenomics, the reflationary policy mix launched by former Prime Minister Shinzo Abe and inherited by his successor, Yoshihide Suga, were widening economic disparities. She called on the government to once again provide grants to support businesses and benefits to help people pay their rent.

Kohei Otsuka, deputy leader of the People’s Democratic Party, noted that the hospitality and tourism industries remain in serious situations and called for the implementation of support measures, including one covering around 90% of fixed costs, for these industries.

Hitoshi Asada, politician of the Nippon Ishin no Kai (Japanese Innovation Party), said the consumption tax rate should be lowered to 5% and kept there for about two years.

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