noun
policy speech
A formal address outlining government policy directions, typically delivered by a prime minister or cabinet member at the opening of a legislative session.
首相は国会で施政方針演説を行った。
The prime minister delivered a policy speech in the Diet.
所信表明演説 is a speech expressing one's beliefs or convictions, often given by a newly appointed prime minister, while 施政方針演説 focuses on concrete policy directions and is typically delivered at the start of a regular Diet session.
Compound of 施政 (しせい, 'administration, government'), 方針 (ほうしん, 'policy, course'), and 演説 (えんぜつ, 'speech, address').