LDP Aims to Boost Japan's Average Income by 50 Pct by 2040

   Tokyo, June 9 (Jiji Press)--Japanese Prime Minister Shigeru Ishiba on Monday instructed his ruling Liberal Democratic Party to include in its campaign pledge goals boosting the country's average income by at least 50 pct from the current level by 2040.
   In the day's party executive meeting, Ishiba also called for increasing the country's nominal gross domestic product to 1,000 trillion yen in 2040 as part of the goals.
   The prime minister told his party to consider the goals "the most important pledge" in its campaign for the upcoming election for the House of Councillors, the upper chamber of Japan's parliament.
   Through the goals, Ishiba hopes to differentiate the LDP from opposition parties, which have featured consumption tax cuts as their main policy promises.
   Some in the LDP are discussing a proposal to provide cash benefits without income restrictions as an immediate remedy for the soaring cost of living.

(2025/06/09-22:00)

To read a full story, please click here to find out how to subscribe.