TOKYO: Japan's incoming prime minister Shigeru Ishiba said on Monday he aimed to call snap elections for October 27, as equities plunged on a strong yen and fears that tax hikes are on the cards. Ishiba, who was set to be formally appointed as premier after winning the leadership of the ruling party, supports the Bank of Japan's drive to hike interest rates and has said "there is room" to raise corporate levies. The leadership contest for the Liberal Democratic Party (LDP), which has governed almost uninterrupted for decades, went down to the wire on Friday.
Ishiba confirmed on Monday media reports that he aimed to call snap elections for October 27, saying it was "important for the new government to be judged by the people as soon as possible".
LDP elders are banking on Ishiba, a self-confessed defence "geek" fond of making model ships and planes, to boost the party's popularity. Its poll ratings fell sharply under outgoing premier Fumio Kishida, hit by a damaging party slush fund scandal and anger over rising prices. — AFP
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