Japan's Ishiba Seeks Support in Parliament Amid Budget Woes and US Ties

Tokyo, Japan - Japanese Prime Minister Shigeru Ishiba inaugurated parliament Friday, seeking support for his minority government's record-breaking ¥115.5 trillion ($738 billion) annual budget. As he navigates the complexities of the new US administration, Ishiba also highlighted Japan's economic and security challenges.

In his address, Ishiba emphasized the need for sustainability and independence amidst Japan's aging population, sluggish regional growth, and volatile security environment. He stated, "To create a new Japan, we must focus on being sustainable and independent. That requires a fundamental change in our values."

Ishiba's immediate priority is securing sufficient votes to pass the budget, which has become more challenging after his coalition lost seats in the October election. He is negotiating with smaller opposition parties to gain support before the fiscal year begins in April.

Amidst concerns about a potential trade war over tariffs, Ishiba plans to visit the US in early February for talks with President Donald Trump. In his speech, he reiterated the importance of the Japan-US alliance, stating, "We must retain the US commitment in this region by further deepening Japan-US cooperation and ensuring a power vacuum doesn't cause instability."

Ishiba faces declining approval ratings and an upcoming upper house election in July, where the economy and inflation are expected to be major issues. The Bank of Japan's recent rate hike suggests that mild inflation is expected to continue, potentially leading to higher housing loan costs. A government survey indicated that 70% of respondents are concerned about price increases.

"We plan to improve economic productivity and increase people's incomes, with wage hikes that keep up with inflation as a starting point," Ishiba said.

Ishiba's ability to reach an agreement with an opposition party on the budget before the end of March will be a crucial test of his leadership. The Democratic Party for the People has requested a higher tax-free income ceiling in exchange for support, while the government is wary of losing tax revenue.

Ishiba is also considering proposals from the Japan Innovation Party, including free high school education for all students. While former Prime Minister Shinzo Abe established a quick rapport with Trump, Ishiba will need to demonstrate his ability to protect Japan's interests in his dealings with the US administration.

Furthermore, Ishiba is facing pressure from within the ruling Liberal Democratic Party over a recent decision to ease visa restrictions for Chinese visitors. However, the public remains primarily focused on domestic economic issues and a sense of stability.