Japanese PM Says No To Increasing His Own Salary

Japanese PM says no to increasing his own salary

Japanese Prime Minister Fumio Kishida is advocating for salary hikes in response to inflation in his country. However, in the face of public criticism, he has opted not to increase his own salary.

The Japanese government has crafted a proposed law with the aim of raising salaries across the entire public administration, including top executive positions. Under this legislation, Kishida’s annual salary was set to rise by 460,000 yen (approximately 2,850 euros), reaching a total of 40.6 million yen (around 250,000 euros). The decision to raise the salaries of the prime minister and ministers faced backlash from the Japanese public.

The PM acknowledged that the decision to increase the salary of the prime minister and the ministers was criticized by the Japanese public opinion and it is necessary to avoid creating mistrust. In response to the public’s concerns, the prime minister, ministers, and deputy ministers have agreed to redirect their salary increases to the Public Treasury.

Kishida recently unveiled a comprehensive economic plan, valued at over 100 billion euros, designed to support Japan’s economy. The initiative aims to alleviate the impact of inflation on the population and bolster Kishida’s declining popularity. Inflation in Japan has surged to unprecedented levels this year, reaching 2.8% in September, well above the Bank of Japan’s 2% target, causing a strain on the purchasing power of Japanese households. The weakening yen against the dollar and euro further challenged Japanese consumers.