Economic growth and fiscal policy were at the center of Prime Minister Sanae Takaichi’s debate with lawmakers in a Friday session of the Lower House Budget Committee, with the ruling Liberal Democratic Party supporting her plans to boost investment in key sectors and the main opposition Constitutional Democratic Party of Japan expressing disapproval of expansionist views.
LDP lawmaker Ken Saito began by questioning Takaichi about her newly established economic panel, which she instructed on Tuesday to map out a plan for growth and investment in 17 crucial sectors — including artificial intelligence, shipbuilding, defense, semiconductors and telecommunications, among others.
Saito in particular underscored the government’s plans to invest ¥1.7 trillion ($11 billion) in the Japanese chipmaker Rapidus and expand support for the domestic content industry, with the goal of tripling overseas revenue to ¥20 trillion in 2033.
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