re: snap Lower House election possibly looming
This is an interesting twist as it could bing down the current, pretty much anti-business, pro-organized labor DPJ government. For any equity investor in Japan this should be great news ! Especially as the new pro-market group ("Your party") appears to be set to make big gains and may end up becoming the kingmaker in the new Diet.
japantoday.com
Ozawa sees lower house being dissolved as early as March
Friday 04th February, 05:47 AM JST
TOKYO —
Former Democratic Party of Japan leader Ichiro Ozawa has said he sees the lower house being dissolved as early as in March, party members said Thursday.
Ozawa said during a meeting Wednesday evening with party officials that the ‘‘critical point will be in March,’’ a remark that is likely to create a ripple as his political rival and DPJ leader, Prime Minister Naoto Kan, is struggling in a divided parliament and speculation is rife for a general election, according to the party members.
Kan has repeatedly said he has no plans to dissolve the lower house, which is dominated by the ruling party, and has stressed he will put full efforts toward enactment of the fiscal 2011 budget. But lawmakers from the opposition camp, which controls the upper house and whose support he needs to pass key bills, remain uncooperative.
According to the party members, Ozawa said at the meeting that took place in Kagoshima that the DPJ will be in a bind if the fiscal 2011 budget and related bills are not passed because then the child-rearing allowance will expire.
Ozawa, who is known in Japan’s political circles as a power broker and credited for bringing the DPJ to power in 2009, said he believes the New Komeito party, the second-largest opposition party, is ‘‘serious’’ in battling the DPJ.
Ozawa was quoted by the party members as saying the New Komeito believes it can still win even if the lower house election would coincide with that of nationwide local elections in April.
The DPJ has been trying to lure the New Komeito to its side to help it avoid policy gridlock in the divided Diet. |
