of Japan Prime Minister Shigeru Ishiba will propose a new happiness index in his first parliamentary policy speech on Friday, local media reported.
The index, developed by the public and private sectors, is expected to be proposed alongside Ishiba’s economic plans and address the country’s shrinking population.
Mr. Ishiba, 67, became prime minister on Tuesday after winning a controversial ruling party leadership vote last week.
He said he planned to hold a snap election on October 27 to solidify his mandate on policies, such as boosting support for regional governments and wealthy households. low income.
It is unclear how his speech will address foreign policy issues, but broadcaster NHK and other media reported on Thursday that Ishiba will likely renew his commitment to fighting inflation and announced plans for a new monetary stimulus package.
The yen rallied last Friday after the Liberal Democratic Party (LDP) elected Ishiba as leader, because he widely supported the Bank of Japan’s move away from ultra-loose policies. my own.
However, Ishiba told reporters late Wednesday that he did not think the environment was right to raise interest rates further, sending the Japanese currency lower again.
Local media reported that the Prime Minister will also announce plans to increase Japan’s average minimum wage to 1,500 yen ($10.22) by 2030, from the current 1,055 yen.
These efforts to raise GDP per capita in the world’s fourth-largest economy are part of his vision to raise public happiness, they said.
According to NHK, he is also expected to call the rapidly aging population a “silent crisis” that “affects the core of our country.”
Ishiba is expected to discuss plans to establish a new disaster management ministry in the country prone to earthquakes and floods, as well as stress the importance of nuclear energy.
Nuclear energy is a divisive topic in Japan, supported by the business lobby but the public remains wary following the 2011 tsunami in Fukushima.
Takahide Kiuchi, executive economist at Nomura Research Institute and a former board member of the Bank of Japan, said Ishiba’s speech “will likely be given with keen awareness of the general upcoming election”.
“It seems like the Ishiba government is prioritizing winning the election and consolidating its power base,” he said.
