'Last chance' to reverse Japan's birth rate

Prime Minister Kishida at a press conference in Tokyo on June 13.

Prime Minister Kishida's key policy move comes amid speculation that he will dissolve Japan's lower house this week and call for early elections. This move could fuel calls from within his own party for a sharp increase in spending to bolster voter support.

"Now is the last chance to reverse the declining birth rate before the 2030s," Reuters quoted Kishida as saying at a press conference.

According to the Japanese Prime Minister, the low birth rate is "a major problem affecting society and the entire economy of our country and cannot be delayed." "If we cannot stop the rapid decline in the birth rate and population, Japan's economy and society will contract, making it difficult to maintain social security systems," Kishida said.

With measures such as spending more money on families with children and providing housing for hundreds of thousands of such households, Prime Minister Kishida said he hopes the government budget for childcare will double by the early 2030s, from the current level of around 4.7 trillion yen (793 trillion VND).

This new policy could help the ruling Liberal Democratic Party (LDP) win public favor, sparking speculation about an early election.

At a press conference on June 13, Mr. Kishida did not answer questions about plans to hold early elections, saying that many factors would influence this.

Japan's birth rate has been steadily declining, falling to a record low of 1.26 last year (compared to 1.57 in 1990), despite a series of government measures aimed at reversing the trend.

According to Mr. Kishida's plan, the Japanese government will allocate approximately 3.5 trillion yen annually for the next three years to childcare subsidies and support for those taking temporary leave to care for their children. However, the government has yet to outline the exact methods for financing these measures, raising concerns about increasing public debt.

"Gen Z" is tired of drinking alcohol, so Japanese liquor companies are shifting to promoting non-alcoholic beverages.

Mr. Kishida once again ruled out the possibility of raising taxes in the short term, saying that the funding gap would be filled by issuing special childcare bonds.

The government will also urge companies to allow employees more flexible working options, such as a three-day-a-week break, according to the proposal.

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