Japan PM Takaichi Calls Snap Election in February, Stakes Political Future

• Japan's Prime Minister Sanae Takaichi announced a snap election for February 8, dissolving the House of Representatives on Friday.
• Takaichi is staking her political future on this election, seeking public backing for increased spending, tax cuts, and a new security strategy.
• Key proposals include a two-year pause on the 8% consumption tax on food and plans to boost jobs and household spending.
• The proposed consumption tax cut, estimated to reduce government revenue by 5 trillion yen ($32 billion) annually, pushed Japan's 10-year bond yield to a 27-year high.
• This election will be Takaichi's first electoral test since becoming Japan's first female PM in October, deciding all 465 lower house seats.

Why It Matters: Japan's PM Takaichi calls a snap election, risking her leadership on economic and security policies.