To monitor the health of the economy, the “happiness index” arrives: the idea came from Japanese Prime Minister Shigeru Ishiba who will launch his proposal tomorrow in his first speech to Parliament. Under Ishiba’s plans, more support will be introduced for regional governments and low-income families. Not only that, but the new prime minister is also thinking of a plan for further monetary stimulus.
The Prime Minister is also expected to announce his intention to raise Japan’s average minimum wage to 1,500 yen ($10.22) by 2030, from the current 1,055 yen. These attempts to support GDP per capita in the world’s fourth largest economy are part of his plan to increase the happiness levels of the Japanese, which will be measured in an ad hoc index.