Ishiba Shigeru laid out his economic policies in his first news conference as Japanese prime minister. He said he will continue with his predecessor Kishida Fumio’s growth-oriented policy and aim to pull Japan fully out of deflation.
Ishiba emphasized the importance of expanding private consumption.
He touched on his ambition to raise minimum wages to a nationwide average of 1,500 yen, or about 10 dollars, within this decade.
He also said he will take immediate measures against the effects of high prices, including a cash subsidy for low-income households.
Ishiba added he will promote investments that would help boost the earning power and productivity of export industries.
He also said he will continue with the previous administration’s effort to encourage investment from home and abroad.
As for monetary policy, Ishiba said he will entrust the specifics to the Bank of Japan.
But he said he’s keeping a watch with the expectation that the central bank will maintain its basic stance on monetary easing.