(Update) LDP Pledges to Raise Wages by 1 M. Yen by FY 2030

   Tokyo, June 19 (Jiji Press)--Japan's ruling Liberal Democratic Party announced its campaign platform for the upcoming House of Councillors election on Thursday, including a pledge to raise people's wages by around 1 million yen by fiscal 2030.
   According to the platform, the LDP will target a nominal wage increase of 3 pct to meet the pledge. It will also strengthen measures against illegal foreign stayers, in a bid to win back conservative voters who have turned away from the party.
   In line with Prime Minister Shigeru Ishiba's announcement earlier this month, the platform includes a plan to give 20,000 yen in cash benefits to all citizens and an additional 20,000 yen to adults in resident tax-exempt households and all children, by using excess tax revenues.
   The party will aim to expand Japan's nominal gross domestic product to 1,000 trillion yen in 2040 and to raise the average personal income by at least 50 pct from the current level.
   Meanwhile, the LDP did not include a consumption tax cut, which opposition parties are seeking. "A consumption tax cut tends to benefit people with higher incomes more than those with lower incomes," LDP policy chief Itsunori Onodera said at a press conference.

(2025/06/19-22:10)

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