Abe faces challenge to stoke economy after election win
Japanese Prime Minister Shinzo Abe’s gamble on early elections paid off with a sweeping victory that also puts pressure on the premier to show results from an economic program that’s failed to excite much of the public.
With the lowest voter turnout in the postwar era, Abe’s coalition won more than two- thirds of the 475 seats in the Diet’s lower house, getting at least 325. Abe, 60, strengthened his mandate to lead the Liberal Democratic Party before his current term is up in September, and boosted chances of staying in office until 2018 — becoming the longest- serving pre- mier in four decades.
While Abe’s reflation program has driven the benchmark Topix index of stocks up more than 70 per cent in his two years in office, he has yet to boost real incomes for workers, and is now working to stoke a recovery from a mid- 2014 recession amid sagging manufacturer sentiment.
Another goal is overcoming resis- tance to plans to reduce limits on the military.
“First of all I will tackle economic policies as the top priority,” Abe told public broadcaster NHK late Sunday. “At the same time, I will prepare national security laws to protect the lives and happiness of the Japanese people.”
Yesterday’s vote underscored the weakness of the main opposition Democratic Party of Japan, which has been riven by infighting and hit by a shortage of funds. DPJ leader Banri Kaieda failed to hold onto his seat and will step down, public broadcaster NHK said.
With many opposing an election two years before one was due, turnout fell to 52 per cent, from 59 per cent in 2012. The LDP won 291 seats and its coalition partner, Komeito, garnered 35.