In its campaign platform released Wednesday for the July 11 Upper House election, Kokumin Shinto (People's New Party) called for a ¥100 trillion stimulus package over three years to realize economic growth of at least 5 percent.
The tiny party in the ruling bloc will aim to rebuild Japan's state finances through economic growth, according to the platform, announced by Kokumin Shinto chief Shizuka Kamei, though no mention was made of whether to raise the 5 percent consumption tax to that end.
Instead, the party proposed creating a new interest-free, tax-free type of government bond as a major source of fiscal revenue, as well as using extra and reserve funds amassed in special government accounts plus postal savings and insurance funds.
Under the banner of "a conservative party that makes good on its promises," the party also clarified its opposition to the ruling Democratic Party of Japan's goals of granting local-level suffrage to permanent foreign residents and allowing dual surnames to married couples.