Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Japan's main opposition calls for 'wealth distribution first' ahead of election

Published 10/14/2021, 12:49 AM
Updated 10/14/2021, 12:50 AM
© Reuters. Yukio Edano, head of Japan's largest opposition party, the Constitutional Democratic Party of Japan, speaks at a group interview in Tokyo, Japan, October 14, 2021. REUTERS/Kim Kyung-Hoon

TOKYO (Reuters) - Japan's largest opposition, the Constitutional Democratic Party of Japan (CDPJ), said on Thursday it would try to close the country's income gap with wealth redistribution if it were to take power in the Oct. 31 election.

It is a position echoed by Japanese Prime Minister Fumio Kishida, who is also head of the ruling Liberal Democratic Party (LDP), blurring policy difference between the LDP and CDPJ ahead of the lower house election.

"'Wage hikes and distribution once growth is achieved.' This is what (former prime minister Shinzo) Abe was saying. But there was no growth over the past eight, nine years and no wage hikes," CDPJ chief Yukio Edano told reporters. "If we don't distribute wealth first, no growth is achieved. This is a rather clear difference (between the two parties)."

Asked about the CDPJ's chance of replacing the LDP as ruling party in the election, Edano said it would be as good as U.S. Major League baseball player Shohei Ohtani's batting average.

"We watch him play on TV, waiting excitedly for him getting a hit or hitting a home run. I believe people can hold the same sort of anticipation," he said.

The batting average of the Los Angeles Angels' Ohtani, who has proved his ability to pitch and hit at an elite level this year, stands at .257.

A voter survey conducted by public broadcaster NHK showed on Monday that 6.1% of those polled supported the CDPJ, trailing far behind the LDP's 41.2%.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.