Politics

Japanese Prime Minister Sanae Takaichi achieved a historic victory in the elections on Sunday, setting the stage for anticipated tax cuts that have raised concerns in financial markets and increased military spending to address China’s influence. Takaichi, who is Japan's first female leader and takes inspiration from Britain’s “Iron Lady” Margaret Thatcher, secured 316 out of 465 seats in the lower house of parliament for her Liberal Democratic Party (LDP), marking its best result ever. Together with her coalition partner, the Japan Innovation Party, also known as Ishin, Takaichi now holds 352 seats, giving her a supermajority of two-thirds. This majority simplifies her legislative plans, allowing her to bypass the upper chamber where she lacks a majority. “This election brought significant changes, especially in economic and fiscal policies, along with a focus on strengthening security,” Takaichi stated in a television interview as the results came in. “These policies have faced considerable opposition... If the public supports us, we must address these issues with full commitment.” U.S. President Donald Trump congratulated Takaichi on her win and expressed his hopes for her “Conservative, Peace Through Strength agenda” in a social media post. “Sanae’s courageous decision to call for an election was a major success,” Trump said, adding that he will welcome Takaichi at the White House next month. Takaichi, 64, called the unusual winter election to take advantage of her rising approval ratings since she became the leader of the long-standing LDP late last year.