Takaichi Gives Speech to the Diet

Prime Minister Sanae Takaichi gave a policy speech on the first day of extraordinary session of the Diet convoked on October 5th. Focusing on introduction of consumption tax cut, Takaichi stressed that she would strengthen Japanese economy, spending sixty percent of time of her speech. However, she never explained how she would find the financial resource for her economic policy.

In her speech, she reiterated an idiom of ancient China: Keisei-saimin (経世済民), which means “Good governance save the people.” The Japanese in Edo era interpreted the word of “economy” as “keizai (経済)”, an abbreviation of keisei-saimin. Former prime minister Noboru Takeshita named his faction “Keisei-kai (経世会)” based on keisei-saimin. It is unknown why Takaichi introduced this idiom in her speech. The people in former Abe faction, or Seiwa-kai, never referred to this idiom, because Takeshita was their political enemy.

 

Anyway, Takaichi’s focus in her policy speech was economy. Arguing that foreign countries are competing over industrial policies in a long-term and large-scaled perspectives, she encouraged the government and private sectors active investment to build a “strong and prosperous Japan.” “Everyone is doing this” is a phrase for the Japanese to be mobilized. They join a long line in front of a shop, even they do not know what the shop sells.

 

The top agenda for Takaichi in this Diet session is consumption tax cut, which she hopes to introduce in April 2027. She explained the purpose of the policy as to give each household a little affordability. She emphasized that the policy would be introduced with no additional issuance of governmental bond. “Do not worry,” she said, trying not to stimulate the markets. Without specifying the financial resource of consumption tax cut, Takaichi insisted her principle of economic policy: responsible and proactive fiscal policy.

 

Diplomacy did not occupy a large part. Concerning sanction of the United States on the International Criminal Court, Takaichi stressed Japan’s commitment to the rule of law. She stressed Free and Open Indo-Pacific (FOIP) as a principle of her diplomacy and “mutually beneficial relationship based on common strategic interests” with China. Those concepts were initiated by former Prime Minister Shinzo Abe. Takaichi looks like simply following Abe’s foreign policy.

 

Takaichi adores Abe as her mentor in conservative politics. However, she did not address the directions of controversial issues in her speech. She refrained from pushing constitutional amendment, leaving it to the discussion among the parties. Takaichi also expected discussion on backup capital bill, on which Japan Innovation Party still insists. Her relatively sober reference to those policies supposedly stems from decline of approval rate for Takaichi Cabinet after she pushed revision of Imperial House Law or Prohibition of National Flag Vandalism Act in last session of the Diet.

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