Chairperson's Messages

Statement by Yoshimitsu Kobayashi, Chairman of Keizai Doyukai On Result of Lower House General Election

October 22, 2017

Yoshimitsu Kobayashi
Chairman, Keizai Doyukai

  1. The ruling coalition has secured an overwhelming victory in the House of Representatives election voted and counted today. We welcome the political continuity ensured amid the many challenges we face such as the acceleration of growth strategy, the realization of work style reform, and the intensifying North Korea issue.
  2. Over two-thirds of the seats won by the pro-constitutional amendment camp has increased the likelihood of the amendment. We look to the deliberate discussions that are transparent to the public.
  3. The issues of this election, despite its important objective of regime selection, were not well focused due to the abrupt dissolution, the following changes in the environment surrounding the opposition parties, and the time constraints for the preparation. We will carefully watch how the new power balance of the opposition parties will evolve from now on and also, what policies they will present.
  4. Realization of primary balance surplus at the earliest possible is a pressing issue. Given the consumption tax rate hike to 10% in October 2019 and a change of the tax revenue use, the government must present a following long-term timetable without delay toward the fiscal consolidation.
  5. This was the first national election for the young voters aged eighteen and nineteen to face the regime selection. We expect that the upcoming parliamentary sessions will address, in a manner friendly and transparent to the public, the issues such as those impacting the young generation's future, including productivity revolution, human resources development revolution, social/national security, constitutional amendment, and energy, as well as fiscal consolidation.