EGX ends week in green area on 23 Oct.    Egypt's Curative Organisation, VACSERA sign deal to boost health, vaccine cooperation    Egypt, EU sign €75m deal to boost local socio-economic reforms, services    Egypt, EU sign €4b deal for second phase of macro-financial assistance    Egypt's East Port Said receives Qatari aid shipments for Gaza    Egypt joins EU's €95b Horizon Europe research, innovation programme    Oil prices jump 3% on Thursday    Egypt steps up oversight of medical supplies in North Sinai    Egypt to issue commemorative coins ahead of Grand Egyptian Museum opening    Suez Canal signs $2bn first-phase deal to build petrochemical complex in Ain Sokhna    Inaugural EU-Egypt summit focuses on investment, Gaza and migration    Egypt, Sudan discuss boosting health cooperation, supporting Sudan's medical system    Omar Hisham announces launch of Egyptian junior and ladies' golf with 100 players from 15 nations    Egypt records 18 new oil, gas discoveries since July; 13 integrated into production map: Petroleum Minister    Defying US tariffs, China's industrial heartland shows resilience    Pakistan, Afghanistan ceasefire holds as focus shifts to Istanbul talks    Egypt's non-oil exports jump 21% to $36.6bn in 9M 2025: El-Khatib    Egypt, France agree to boost humanitarian aid, rebuild Gaza's health sector    Egyptian junior and ladies' golf open to be held in New Giza, offers EGP 1m in prizes    The Survivors of Nothingness — Part Two    Health Minister reviews readiness of Minya for rollout of universal health insurance    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt launches official website for Grand Egyptian Museum ahead of November opening    The Survivors of Nothingness — Episode (I)    Al-Sisi: Cairo to host Gaza reconstruction conference in November    Egypt successfully hosts Egyptian Amateur Open golf championship with 19-nation turnout    Egypt will never relinquish historical Nile water rights, PM says    Al Ismaelia launches award-winning 'TamaraHaus' in Downtown Cairo revival    Al-Sisi, Burhan discuss efforts to end Sudan war, address Nile Dam dispute in Cairo talks    Egypt's Sisi warns against unilateral Nile actions, calls for global water cooperation    Egypt unearths New Kingdom military fortress on Horus's Way in Sinai    Syria releases preliminary results of first post-Assad parliament vote    Karnak's hidden origins: Study reveals Egypt's great temple rose from ancient Nile island    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    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    







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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


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