LDP Unveils Ambitious Campaign Promises for Upper House Election

On June 19, Itsunori Onodera, the chairman of the Liberal Democratic Party’s Policy Research Council, introduced the party's campaign pledges during a news conference, ahead of the upcoming Upper House election. One of the most significant targets set by the ruling party is to elevate the country’s nominal gross domestic product to 1,000 trillion yen (approximately $6.88 trillion) by the year 2040.

a robust economy, improved quality of life, and a strong national identity.

Prime Minister Shigeru Ishiba is focusing on increasing wages, with the LDP proposing a real increase of 1% and a nominal rise of 3% through accelerated minimum wage adjustments and bridging the pay gap between regular and non-regular workers. The party aims to enhance wages by approximately 1 million yen by the fiscal year 2030 and to raise average incomes by over 50% by 2040.

Among the cost-of-living initiatives are direct cash benefits amounting to 20,000 yen per individual and an additional 20,000 yen for every child and for adults in households that are exempt from resident tax. Onodera highlighted the limitations of a consumption tax cut for low-income individuals, advocating instead for the effectiveness of direct cash assistance.

However, it remains uncertain if the ambitious GDP target can be realized, especially given that the nation's nominal GDP recently exceeded 600 trillion yen in 2024, climbing past the 500 trillion mark in 1992. The LDP plans to ensure adequate funding to shield domestic industries from U.S. tariffs and support small to medium enterprises as well as to reduce gasoline prices.

The party is committed to "bold" investments in sectors expected to thrive in the next decade, aiming to produce "new wealth" by taking the lead in advanced technologies such as artificial intelligence and quantum science. Furthermore, in light of recent rises in retail rice prices, the LDP intends to boost the agriculture budget and reassess paddy farming strategies.

Unlike the previous Lower House election where the party emphasized reforms concerning political funding scandals, the LDP has opted for a more subdued stance on this issue in the context of the Upper House campaign. They simply stated their intention to enhance transparency in political funding and ensure compliance with relevant laws.

Additionally, the campaign does not address the contentious topic of allowing married couples to adopt different surnames, which faces significant opposition within the party. The LDP is also intensifying efforts to eliminate law-breaking foreigners and has committed to enforcing regulations concerning renewals of driver’s licenses and property ownership.

The upcoming Upper House election is slated for July 20, with formal campaigning expected to begin on July 3.