Koizumi Makes His LDP Presidential Bid Official, Promises to Raise Average Incomes

The Yomiuri Shimbun

15:41 JST, September 20, 2025

Agriculture minister Shinjiro Koizumi of the Liberal Democratic Party pledged to increase take-home pay through measures such as revising the income tax system, aiming for an average effective wage increase of ¥1 million over five years, as he formally announced his candidacy in the party presidential race.

Koizumi, 44, held a press conference in Tokyo and vowed to implement initiatives to listen to the people’s voices for a “fundamental renewal of the party.” The LDP’s leadership election campaign period will begin on Monday. Voting and vote counting will take place on Oct. 4.

At the press conference, Koizumi said, “Recently, the LDP has been preoccupied only with issues of politics and money, failing to address the public’s anxieties.” He expressed his determination, saying: “I will rebuild it into a party that delivers the security and safety the people demand. I will lead that effort.”

Amid prolonged high prices, he pledged to swiftly formulate economic measures and abolish the provisional gasoline tax rate. He plans to boost income with measures such as introducing a mechanism to adjust the taxable income threshold — the so-called “annual income barrier” — in line with rising prices and wages by revising the income tax system. He also said he would improve working conditions in sectors like health care and nursing care.

He presented a vision for fiscal 2030 including “an average wage increase of ¥1 million” and “¥135 trillion in domestic investment,” listing specific measures such as investment tax breaks to encourage corporate capital expenditure.

Candidates who have declared their candidacy for the LDP leadership election include former LDP Secretary General Toshimitsu Motegi, 69; former economic security minister Takayuki Kobayashi, 50; Chief Cabinet Secretary Yoshimasa Hayashi, 64; and former economic security minister Sanae Takaichi, 64.

No other candidates are currently exploring a run, likely making the election a contest among these five individuals.