Japan’s Liberal Democratic Party Loses Majority for First Time Ever
The ruling Liberal Democratic Party (LDP) lost the position of the largest bloc in Japan's Upper House for the first time since its founding in 1955. That's fifty years and change that the LDP has been in charge or at least has led the controlling coalition.
No more….the Democratic Party of Japan (DPJ) is now the largest.
When pension payments get lost and the government is consistently involved in money scandals involving cabinet members and other members talk with 'foot in mouth' disease, it was bound to happen…and on Shinzo Abe's watch.
As a result, tax and fiscal reforms are expected to be affected.
The DPJ doesn't want to raise the consumption tax…the LDP had plan to do so.
The DPJ wants to create allowances to encourage couples
to have children.
The LDP wanted to cut spending to restore fiscal health.
The DPJ may launch an offensive on pension reform.
The DPJ wants to raise the minimum wage.
The DPJ also is more protectionist for farmers, wanting to create a minimum income.
Ongoing talks between Japan and Australia, United States and Europe regarding economic partnership agreements are expected to be affected as well.
It's about time Japan's politics got shaken up.
I wonder if the DPJ had anything to do with an earthquake not long ago.
Tags: 2963, 3202
POSTED IN: All about Japan
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