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2024 October 16 - 22 TOP3 [POLITICS]

Why does PM Ishiba oppose a ban on political donations from companies?

Prime Minister Ishiba Shigeru opposes a ban on political donations from corporations and other interest groups because it would hurt his financial standing.

The majority of LDP factions’ slush funds came from the sale of fundraiser tickets that businesses and interest groups purchased. PM Ishiba, however, states that corporate donations, which are the root cause of money-driven politics, will continue to exist.

During a debate held between major party leaders at the Japan National Press Club on October 12, Ishiba insisted that corporate and organizational donations “should be allowed into the future.”

On the NHK “Sunday Debate” program aired on October 13, Ishiba called the ban on corporate donations a pipe dream.

Akahata calculated the political funds of the fund-management organization and an LDP constituency chapter in Tottori Prefecture, both of which Ishiba serves as head. The two bodies, between 2020 and 2022, received approximately 113.8 million yen in political donations, including the income from fundraiser ticket sales, from business entities and other interest groups, according to Akahata. The income from corporate donations accounted for about 60% of the total.

In other words, it would prove fatal to Ishiba if corporate donations are prohibited, and so it appears to be a fantasy to him.