Japan to compile big extra budget after polls, LDP heavyweight says

Japanese Economy Minister Akira Amari speaks at a press conference in Tokyo, Japan on January 28, 2016. REUTERS / Yuya Shino

  • Incoming PM Kishida to spend big to ease COVID pain
  • Abe Amari’s ally appointed general secretary of the PLD
  • Kishida to call on key cabinet reshuffle staff

TOKYO, Oct. 3 (Reuters) – Japan will establish a significant supplementary budget immediately following the impending general election to soften the economic blow from the pandemic and boost long-term growth in key areas, a party heavyweight told Sunday. to be able to.

“What needs to be addressed first are vaccinations. This is the strongest measure against coronaviruses,” Akira Amari, newly appointed general secretary of the Liberal Democratic Party (LDP), told the debate program policy of the public channel NHK.

Japan is expected to increase its vaccination rate from 60% to 70% to 80%, levels considered to ease public anxiety, Amari said.

“We have responded with various measures by drawing on emergency budgetary reserves. Now that the reserves are drying up, we will compile a considerably large supplementary budget immediately after the election.”

Given dire public finances, Japan’s new prime minister Fumio Kishida may have no choice but to sell more government bonds to fund a pandemic relief plan that he says him, would be worth hundreds of billions of dollars.

Amari, a former economy minister seen as a key ally of Japan’s oldest prime minister, Shinzo Abe, said the supplementary budget would focus on the environment, digital and infrastructure.

He said the government may consider expanding employment subsidies, while Keiichi Ishii, his counterpart in the LDP’s small coalition partner Komeito called for cash payments of 100,000 yen ($ 900). to anyone up to the age of 18, or around 20 million people.

CABINET RANGE

Kishida, a former foreign minister who won the LDP leadership race on Wednesday, is expected to be elected prime minister by parliament on Monday, replacing Yoshihide Suga, under the party’s majority in the lower house. He is expected to appoint his cabinet later today.

He will lead the PLD in general elections due to take place by November 28.

Finance Minister Taro Aso’s brother-in-law Shunichi Suzuki is expected to replace Aso, while Foreign Minister Toshimitsu Motegi will retain his post, Japanese media reported.

Hirokazu Matsuno, an education minister in Abe’s cabinet, is set to become chief secretary to the cabinet, a key post and the government’s top spokesman, according to reports.

Kishida will retain Defense Minister Nobuo Kishi – Abe’s younger brother – and appoint Education Minister and Abe’s ally Koichi Hagiuda as Minister of Trade and Industry, NHK reported.

Takayuki Kobayashi, a bureaucrat-turned-lawmaker in the finance ministry, will likely assume the new post of minister responsible for economic security policy, with an eye on assertive China, NHK said.

Former Deputy Trade Minister Daishiro Yamagiwa is likely to become Minister of the Economy, implementing coronavirus measures and leading the Prime Minister’s Economic and Fiscal Policy Council Advisory Group.

Seiko Noda, who ran against Kishida, is likely to secure a ministerial post with other female lawmakers, NHK said, in line with Kishida’s goal of having women make up 30 percent or more of his cabinet.

Komeito’s number two Tetsuo Saito is expected to be appointed transport minister, replacing his fellow Komeito MP Kazuyoshi Akaba, media reported.

($ 1 = 111,0500 yen)

Reporting by Tetsushi Kajimoto; Editing by Christopher Cushing and William Mallard

Our Standards: The Thomson Reuters Trust Principles.

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