Shinzo Abe vows to implement growth strategy after winning upper house elections

6 years ago by in Politics

Japanese Prime Minister Shinzo Abe vowed to continue his economic growth strategy, now that his Liberal Democratic Party controls both decision making chambers of the diet.

Abe said, in a news conference Monday, that his victory is a sign of people’s trust in his economic policies, generally named “abenomics”. Abe stressed that he wants the Diet to pass bills to implement policies listed in the growth strategy. These bills include large tax cuts for capital investment and strategies to help boost the competitiveness of Japanese industries, the media writes.

He said the government will make a final decision later this year on whether to go ahead with a plan to raise the consumption tax from 5 to 8 percent next April.

Also, Abe said that he will have talks to economists and study economic data regarding the April-June period, before making decisions. The Prime Minister said that his government will take all the points of view into consideration, and the revival of the economy and the reconstruction of national finances are the top priorities.