Japan’s Ishiba Pledges 50% Pay Rise by 2040 Ahead of Elections

Japanese Prime Minister Shigeru Ishiba has set pay raises and a ¥1 quadrillion ($6.9 trillion) economy as the top campaign promises for this summer’s upper house election, as the date nears for voters to give their latest verdict on his administration.

“I’ve instructed senior party officials to make our top election pledge an aim to reach ¥1 quadrillion in nominal GDP by 2040 and increase average pay by 50% or more from its current level,” Ishiba told reporters in Tokyo Monday evening.