Candidates for Japan's next premier have begun to emerge following the announcement last week by Prime Minister Yoshihide Suga that he was stepping down as leader of the Liberal Democrat Party
Kishida's economic stance differs somewhat from that of Suga, who carried over much of his predecessor Shinzo Abe's "Abenomics" reflationary policies.
"There's no doubt Abenomics has brought a major achievement on growth but in terms of distribution of wealth, trickle-down has not yet happened," he said.A former internal affairs minister and a close associate of Abe, Takaichi has said she would carry over a remodelled version of "Abenomics" including bold monetary easing.
While calling for a swift compilation and enactment of an extra budget to fund economic stimulus, Takaichi said there was no need to lower the sales tax rate from 10%. At a news conference on Friday unveiling his policy platform, Kono said it would be "difficult" to achieve the BOJ's inflation target, urging the central bank to keep in dialogue with markets. Specific monetary policy should be left up to the BOJ to decide.
He suggested the sales tax rate should remain at 10% for the time being. Kono signalled his readiness to issue more bonds to create stimulus, but stopped short of giving an amount.A former defence minister and a rival of Abe, Ishiba has been a vocal critic of Abenomics, saying the policies made stock-holders rich by propping up share prices but brought few benefits to workers.
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