Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    English version of Egypt's tax facilitation initiative laws – full text    UK to seal 1st post-tariff war trade deal with US    Egypt, Japan discuss ICT cooperation, AI strategy alignment    Egypt's FM urges stronger African role in global governance    Egypt, Bahrain discuss enhanced pharmaceutical cooperation    Egypt's EHA partners with Danone Egypt on clinical nutrition    Qatar holds key interest rates steady    Tax Authority prepares comprehensive guide on exported services: Abdel Aal    Egypt, Qatar reaffirm joint mediation efforts amid escalating Gaza crisis    Egypt-Greece trade exchange falls to $1.6bn in 2024: CAPMAS    Fotouh Al-Kuwait to build EGP 86m packaging factory in Sokhna Industrial Zone    Egypt, Greece sign strategic partnership in Athens, hold 1st cooperation council    Minister of Health discusses strengthening healthcare partnership with AFD    India strikes Pakistan, Islamabad claims 5 Indian jets downed amid escalation    Egypt welcomes Oman-brokered US-Yemen ceasefire agreement    Egypt inks deal with Merck to advance healthcare training    Health Minister orders expansion of residency training programmes to strengthen medical workforce    Al Ismaelia, Coventry University Cairo partner on urban development education    Egyptian FM addresses Arab Women Organization Conference opening    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    "5,000 Years of Civilizational Dialogue" theme for Korea-Egypt 30th anniversary event    Sudan conflict, bilateral ties dominate talks between Al-Sisi, Al-Burhan in Cairo    Cairo's Madinaty and Katameya Dunes Golf Courses set to host 2025 Pan Arab Golf Championship from May 7-10    Between Women Filmmakers' Caravan opens 5th round of Film Consultancy Programme for Arab filmmakers    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Ancient military commander's tomb unearthed in Ismailia    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Egypt's FM praises ties with Tanzania    Egypt to host global celebration for Grand Egyptian Museum opening on July 3    Ancient Egyptian royal tomb unearthed in Sohag    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Japan PM seeks referendum on "Abenomics" in snap election
Published in Ahram Online on 21 - 11 - 2014

Prime Minister Shinzo Abe dissolved parliament's lower house on Friday for a snap election on Dec. 14, seeking a fresh mandate for his struggling "Abenomics" revival strategy just two years after he returned to power promising that "Japan is Back".
Abe had vowed to revive the economy with a mix of hyper-easy monetary policy, government spending and reforms, while moving ahead with plans to rein in Japan's massive public debt.
But doubts have grown about his strategy, especially after data showed this week that the economy had surprisingly slipped into recession in the third quarter after an initial rise in the sales tax to 8 percent from April.
"Are our policies a mistake, or are they correct? Is there really any other way," Abe asked rhetorically at a meeting of his Liberal Democratic Party (LDP) lawmakers. "Let us all win together," he said, raising his fist to applause. Abe's cabinet later officially set the vote for Dec. 14, NHK public TV said.
Abe has said he would delay for 18 months a second tax hike to 10 percent that had been slated for October 2015. He pledged that the second increase, which advocates say is needed to fund the bulging social security costs of a fast-ageing population, would go ahead in April 2017.
No general election needed to be held until late 2016, and surveys show around two-thirds of voters are wondering why Abe is taking the plunge now. "The whole reason is a bit unclear, or a bit trivial," said Yutaka Watanabe, a middle-aged tourist snapping a photo of the parliament building on Friday morning.
But the prime minister hopes to cement his grip on power before his support ratings slip too far. Next year, he plans to tackle unpopular policies such as restarting reactors that went off-line after the 2011 Fukushima nuclear crisis.
TRICKLE DOWN OR BOTTOM UP?
An Asahi newspaper poll published on Friday showed Abe's support fell to 39 percent - the lowest since he took office in December 2012 - and just a bit more than the 40 percent who do not back him.
Still, 37 percent said they would vote for the LDP in proportional representation districts, compared with 13 percent who planned to vote for the main opposition Democratic Party of Japan (DPJ). Thirty percent were undecided.
"Unfortunately, the DPJ has not recovered to a point where we can say to voters, 'Entrust the government to us'," DPJ Secretary General Yukio Edano told a news conference. The Democrats were trounced in 2012 after three years in power.
Edano said the DPJ wanted to give voters a choice between Abe's "trickle down" policies that critics say favour the rich and big firms, and the Democrats' "bottom up" strategy that focuses on the middle class.
Faced with a weak and divided opposition, the LDP and its junior partner, the Komeito party, are not expected to lose their majority in the lower house, where they held two-thirds of the 480 seats. There will be 475 seats up for grabs this time after reforms to rebalance between sparsely populated rural districts and dense urban areas.
Abe said he would resign if his coalition failed to win a majority, an outcome experts dismissed as almost impossible, though he could end up weakened if the LDP loses too many seats.
http://english.ahram.org.eg/News/116092.aspx


Clic here to read the story from its source.