News By Japan PM Candidate Kishida Wants To Delay Economic
Stimulus Debate
Fumio Kishida, a key contender to succeed Yoshihide Suga as
Japan’s prime minister, said on Sunday that debate on funding
economic stimulus measures he has proposed should wait
until after a general election later this year.
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The former foreign minister’s remark underscores the rising
risk of a delay in compiling the budget for next fiscal year as
economic policy is in limbo during the campaign for premier
after Suga’s abrupt withdrawal last week.
“I’ll lay out the general direction of my stimulus package idea,
but it won’t be easy for the government to boil down details
of the plan,” Kishida said in a television programme. “How to
fund the package … will be something that will be discussed
once the general election is over.”
In a surprise announcement on Friday, Suga said he will not
run for reelection as head of the ruling Liberal Democratic
Party (LDP). The party president becomes prime minister
because of the LDP’s majority in parliament.
The winner of the now wide-open LDP race must call a
general election by Nov. 28.
Suga’s exit has heightened uncertainty on the outlook for
economic policy as contenders emerge to replace him.
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Kishida has said he would compile a spending package worth
several tens of trillions of yen (hundreds of billions of dollars)
to cushion the blow from the coronavirus pandemic, which is
surging in a fourth wave in Japan.
The timing of the general election could affect procedures for
drafting the budget and additional pandemic-relief spending
plans. The government usually compiles a budget in late
December, after months of preparation, to submit to
parliament in January for enactment before the April start of
the fiscal year.
Reuters