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▼ Kishida Says Government Ready To Consider Measures To Curb Gasoline Prices
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Prime Minister Fumio Kishida said Monday that the government is ready to consider every possible measure, including activating the so-called trigger provision for emergency curbs on gasoline prices, to cushion the impact of high crude oil prices.
“We will not rule out any option and will consider further measures swiftly,” Kishida said at a meeting of the Budget Committee of the House of Representatives.
The comments came after his ruling Liberal Democratic Party called on Friday for the government to raise the ceiling on its subsides, provided to oil wholesalers to help lower gasoline prices, to ¥25 or more per liter from the current ¥5.
Kishida also said the benefits of growth shouldn’t belong to a limited group, as he faced questions in parliament over policies some say are negative for stock prices.
“Capitalism isn’t sustainable unless it is something that belongs to all stakeholders,” Kishida said of his “New Capitalism” policies. “From that point of view it’s important to accept that the fruits of growth are flowing to shareholders and to think about that situation.”
While the full details of Kishida’s economic policy program have yet to be unveiled, he has talked of a shift away from shareholder-focused capitalism and a bid to expand the middle classes.
Kishida, who took office in October, has sent shivers through markets by saying he’s considering raising taxes on financial capital gains and setting guidelines for share buy-backs.
The prime minister has also raised the idea of removing the legal requirement for companies to provide quarterly financial reports to encourage longer-term thinking.
“We will not rule out any option and will consider further measures swiftly,” Kishida said at a meeting of the Budget Committee of the House of Representatives.
The comments came after his ruling Liberal Democratic Party called on Friday for the government to raise the ceiling on its subsides, provided to oil wholesalers to help lower gasoline prices, to ¥25 or more per liter from the current ¥5.
Kishida also said the benefits of growth shouldn’t belong to a limited group, as he faced questions in parliament over policies some say are negative for stock prices.
“Capitalism isn’t sustainable unless it is something that belongs to all stakeholders,” Kishida said of his “New Capitalism” policies. “From that point of view it’s important to accept that the fruits of growth are flowing to shareholders and to think about that situation.”
While the full details of Kishida’s economic policy program have yet to be unveiled, he has talked of a shift away from shareholder-focused capitalism and a bid to expand the middle classes.
Kishida, who took office in October, has sent shivers through markets by saying he’s considering raising taxes on financial capital gains and setting guidelines for share buy-backs.
The prime minister has also raised the idea of removing the legal requirement for companies to provide quarterly financial reports to encourage longer-term thinking.
- February 21, 2022
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