Koizumi Announces Bid for Leadership Position in Liberal Democratic Party Election
Shinjiro Koizumi Announces Candidacy for LDP Leadership, Outlines Economic Agenda
In a press conference held in Tokyo, Agriculture Minister Shinjiro Koizumi officially announced his candidacy for the leadership of Japan's ruling Liberal Democratic Party (LDP). The 44-year-old lawmaker, who is involved with the LDP in his bid, expressed his determination to lead the rebuilding of the party.
Koizumi set a bold goal of increasing the average wage of people to 1 million yen by fiscal 2030. To achieve this, he plans to work on raising the minimum taxable income level in fiscal 2026 and beyond. However, he did not express a positive stance on the LDP's policy pledge of giving cash handouts, a proposal that was made during the July's election for the House of Councillors.
If elected prime minister, Koizumi intends to submit a draft supplementary state budget for fiscal 2025 to an extraordinary session of the Diet, the country's parliament. He also plans to immediately consider drawing up economic measures to fight inflation. However, he did not indicate any intention to reconsider the LDP's policy pledge of giving cash handouts in the new context.
Koizumi also announced his intention to scrap the provisional add-on gasoline tax rate immediately, should he become prime minister. This move is expected to provide relief to the public, although the specific details of his economic measures are yet to be revealed.
In his candidacy, Koizumi is running alongside other LDP candidates like Sanae Takaichi. No other parties are mentioned as being involved in his candidacy. The outcome of the October 4 leadership election at the LDP is yet to be determined.
As Koizumi continues his campaign, the public and the political landscape of Japan eagerly await his plans for the rebuilding of the LDP and his approach to economic issues, particularly inflation and wage growth.
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