Photo/Illutration Prime Minister Sanae Takaichi delivers her policy speech at a Lower House plenary session on Oct. 24. (Koichi Ueda)

For better or for worse, British Prime Minister Margaret Thatcher (1925-2013) made many memorable statements.

Speaking of her economic policy while in office, she may have taken a dig at the rival Labour Party with her remark, “You cannot strengthen the weak by weakening the strong.”

A staunch neoliberal, Thatcher pushed deregulation. She was probably proud of herself when she quipped to the effect, “Foreign countries adopt cuisine from Paris and economics from London.”

Sanae Takaichi, Japan’s first female prime minister, vowed in her first policy speech to create a strong economy, make the entire nation rich and strong, and pursue a vigorous policy in diplomacy and national security.

Her repeated use of the word “strong” suggested that she was thinking of Thatcher, the “Iron Lady,” whom she has always held in admiration.

The key to living up to her pledge apparently lies in what Takaichi calls “responsible, proactive fiscal policy,” a curious term whose meaning is anyone’s guess.

She seems to mean enlarging the economic pie to increase tax revenues so she can pursue her stated policies while maintaining fiscal discipline.

It will be great if all goes as envisioned, but will it? I have my doubts.

For instance, Takaichi said she will secure an alternate “stable revenue source” to make up for scrapping the provisional gasoline tax, but she has not mentioned anything concrete.

In short, her policy speech completely left out what sacrifices we, the people, will be making.

Thatcher was thoroughly familiar with the workings of the fiscal system. She famously said, “If the state increases its expenditure, it must either increase taxes or borrow money. There is no such thing as public money, there is only taxpayers’ money.”

While giving hope to the people, it is also the prime minister’s duty to tell them of the harsh reality as well.

--The Asahi Shimbun, Oct. 25

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Vox Populi, Vox Dei is a popular daily column that takes up a wide range of topics, including culture, arts and social trends and developments. Written by veteran Asahi Shimbun writers, the column provides useful perspectives on and insights into contemporary Japan and its culture.

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