Shinjiro Koizumi, former environment minister and prime ministerial candidate, has announced his intention to call for a snap election if he wins the ruling party’s leadership election this month. He aims to continue the economic policies of Prime Minister Fumio Kishida’s administration, focusing on strengthening the Japanese economy to ensure growth in the face of inflation and higher interest rates. Koizumi plans to implement a new economic package to support small firms and low-income households struggling with rising living costs.
The 43-year-old, son of former Prime Minister Junichiro Koizumi, is a front-runner in the race for the Liberal Democratic Party’s new leader. Kishida, who led Japan out of the COVID-19 pandemic with fiscal spending and income-boosting measures, announced his resignation last month. Koizumi’s economic proposals align with the call for stimulus packages made by other contenders in the LDP race, reflecting a traditional approach of promising big spending to attract voters.
As the political landscape evolves, Japan prepares for potential leadership changes and economic shifts under a new prime minister.
© Thomson Reuters 2024.