Full text of Prime Minister Takachi's Policy Speech: 'Pressing the Growth Switch, Pressing, Pressing'
Prime Minister Sanae Takagi delivered a policy speech outlining her government's commitment to economic growth and addressing inflation.
On October 20, Prime Minister Sanae Takagi presented her policy speech in the Diet, focusing on the urgent need for economic growth and the management of inflation in Japan. Following the recent general elections, she feels empowered by the public's mandate to implement the Liberal Democratic Party's campaign promises and the coalition agreement with the Japan Innovation Party. Expressing her intent to work collaboratively with opposition parties, she emphasized the importance of listening to citizens and executing policies that will enhance Japan's national strength, driven by responsible fiscal management.
In her address, Takagi acknowledged the challenges posed by rising living costs and highlighted measures already being implemented, such as the elimination of the temporary gasoline tax and monetized support for energy costs. She plans to deploy a wide-ranging agenda to not only enhance economic performance but also strengthen diplomatic and security policies, thereby positioning Japanβs overall national power firmly on a path to recovery. Takagi promised to spearhead initiatives aimed at a thorough transformation of existing policy structures to ensure the country's long-term competitiveness in the global arena.
Highlighting domestic investment and innovation, she recognized Japanβs relatively low potential growth rate compared to other advanced nations, despite comparable efficiency in technology and labor. Her strategy includes a strong emphasis on increasing domestic capital investment, which she believes is critical for fostering innovation and ensuring economic resilience. This reflects a significant shift towards more active fiscal policies that prioritize infrastructure and investment, emphasizing that she aims to galvanize private sector participation in driving Japan's economic future, ultimately aiming for a vibrant, prosperous nation.