Japan PM Calls Feb 8 Snap Election on Taxes and Security

Takaichi said she will dissolve parliament on Friday, triggering a nationwide vote for all 465 seats in the lower house in her first electoral test since becoming Japan’s first female prime minister in October.

“I am staking my own political future as prime minister on this election,” Takaichi told reporters, saying she wanted voters to directly decide whether to entrust her with governing the country.

Calling an early election allows the prime minister to capitalise on strong approval ratings, consolidate her leadership of the Liberal Democratic Party (LDP) and stabilise a fragile governing majority.

Prices First, Politics Second

The snap election comes as rising prices dominate public concern. A recent NHK poll showed 45% of respondents citing the cost of living as their top worry, far ahead of diplomacy and national security.

Seeking to address that pressure, Takaichi pledged a two-year suspension of the 8% consumption tax on food, arguing that relief at the checkout would boost household spending, create jobs and ultimately strengthen tax revenues.

Markets React As Bonds Hit A 27 Year High

The government estimates the tax cut would reduce revenue by about 5 trillion yen ($32 billion) a year. Financial markets reacted swiftly, with yields on Japan’s 10-year government bonds climbing to a 27-year high earlier on Monday.

The move underlined investor concerns over fiscal discipline as voters are asked to endorse higher spending alongside tax relief.

“The Security Environment Is Becoming More Severe”

Beyond economics, Takaichi is asking voters to back a sharper shift in Japan’s security posture. Her administration plans to adopt a new national security strategy this year, accelerating a military build-up that will raise defence spending to 2% of GDP, ending decades of self-imposed restraint.

“The international security environment is becoming more severe,” she said, citing Chinese military exercises around Taiwan and growing use of economic coercion through control of critical supply-chain materials.

China Tensions And Export Curbs Sharpen The Debate

The security push follows China’s decision last week to ban exports to Japan of certain dual-use items, including key minerals, intensifying concerns in Tokyo over economic and military vulnerabilities.

U.S. pressure on allies to spend more on defence, combined with rising tensions in the East China Sea, is expected to keep defence spending high on the campaign agenda.

“Without Intelligence, We Cannot Protect Independence”

As part of her security agenda, Takaichi pledged to establish a National Intelligence Agency.

“Without strengthening intelligence, Japan cannot protect its peace or its independence,” she said, framing the proposal as essential to national sovereignty.

A Narrow Majority And A Newly United Opposition

The ruling LDP and its partner Ishin enter the February 8 vote holding a combined 233 seats, only just enough to retain control of the lower house. Takaichi said her goal is to keep that majority intact.

Her main challenge will come from the Centrist Reform Alliance, a newly formed bloc uniting the Constitutional Democratic Party of Japan and Komeito, which ended its 26-year coalition with the LDP after Takaichi took over party leadership.