Shigeru Ishiba's Pledge to End Deflation and Boost Wages in Japan

Shigeru Ishiba, a candidate in Japan's ruling party leadership race, emphasizes the need to exit deflation and ensure sustainable wage growth. He commits to policies that will promote economic stability and ease public concerns. Ishiba's policy stance counters arguments prioritizing fiscal discipline over economic expansion.

Shigeru Ishiba, former Japanese defence minister and contender in the ruling party's leadership race, stressed the necessity of ending deflation and achieving sustainable wage growth. Speaking at a press conference, Ishiba highlighted that private consumption has shown some improvement but has not fully recovered.

He promised to ensure a complete exit from deflation, aiming to boost real wages and allow people to spend without future financial concerns. As the Liberal Democratic Party controls the parliament, its leader will assume the role of Japan's prime minister.

A close party source clarified that Ishiba's comments address speculation about his focus on fiscal discipline. With Japan facing substantial debt, the topic is critical as the LDP leadership race could mean a snap parliamentary election. Another candidate, Takayuki Kobayashi, echoed the need for economic growth, proposing a stimulus package to ease inflation impacts.

(With inputs from agencies.)