Constitutional Democratic Party Leadership Election: Candidates Share Economic and Fiscal Policy Views

The four candidates vying for the leadership of the main opposition Constitutional Democratic Party in Japan recently shared their opinions on economic and fiscal policies. The debate, held in Kobe, highlighted the candidates’ differing views on how to address the country’s economic challenges.

Former Prime Minister Noda emphasized the need for the government and the Bank of Japan to reassess their joint policy goals. “When interest rates are low, it is easy for the government to borrow money, which tends to lead to massive debt,” he noted. “The Bank of Japan and the government should start by reexamining the joint statement on what goals they will pursue with their monetary and fiscal policies.”

Edano, another candidate, focused on the importance of investing in social welfare programs. “The last 30 years have been about laying people off in the name of deregulation, small government, and self-responsibility,” he said. “Challenges require a sense of security, and investments in childcare, parenting, and elderly care will make the economy better.”

Representative Izumi outlined the party’s economic policies, including free education, improved treatment of childcare workers and caregivers, and tax reform to correct the gap. “To correct the gap, we need to strengthen the progressivity of the income tax rate and raise the corporate tax rate,” he added.

Harumi Yoshida, a member of the House of Representatives, emphasized the need to empower women in the workforce. “The Japanese economy is not fully leveraging the power of women,” she said. “Realizing selective separation of couples can be considered an economic policy. We will create a Japan that breaks free from the framework of men and women and realize a growth economy.”

All four candidates agreed on the importance of transparency, stating that the disclosure of official secrets should be considered in a way that does not interfere with diplomatic negotiations.