On 24 November, the embattled opposition Democratic Party of Japan (DPJ) announced its election manifesto with focus on reviving a wealthy middle class and reducing the wealth gap, effectively calling for a reversal of Abenomics, which the DPJ claims to have exacerbated the living conditions in the past years. With welfare and labor policies such as increased nursing, childcare and pension support and strong workers’ protection as the centerpiece of the manifesto, on the economy side DPJ pledges flexible financial policies and investment in human resources, countermeasures to rising fuel prices, subsidies for farmers, a delay of the consumption tax increase, rated consumption tax for basic goods and cash allowances for low-income families, as well as a decrease of the corporate tax, if feasible. The manifesto also calls for U-turn on the Abe’ administration policy on collective self-defense and zero nuclear power use by 2030.

At present, however, the DPJ, as well as the rest of the opposition, do not seem to have a realistic chance for significant gains in the upcoming lower house elections. With current support for the LDP at 35% vs. 9% for DPJ and 3 % for JIP, the Nikkei Shimbun suggest a collapse of the Japanese two-party system. While other media outlet surveys show slightly different numbers (Yomiuri polls show 41% for LDP and 14% for DPJ;Asahi polls show 37% for LDP and 11 % for DPJ), the outline of the current power balance remains unchanged. With the current divisions in the opposition camp and little time and prospects for a consolidated opposition front, the LDP appears poised to win a fresh mandate in the Diet. The chances of a major change of course are minimal, but with a comfortably extended mandate Abe may tweak the priorities and schedule of his political agenda.

For more information:

民主公約の要旨 (Nikkei Shimbun, 25 November 2014)

崩れる「二大政党型」 小選挙区擁立、自民280超 民主90人減で最少に(Nikkei Shimbun, 25 November 2014)

2-party fight gives way to LDP vs. everyone else (Nikkei Asian Review, 25 November 2014)

ASAHI POLL: LDP en route for election win despite poor support for Abenomics, (Asia&Japan Watch by Asahi Shimbun, 24 November 2014)

Opposition parties seek unity, find disarray, ahead of election campaign (Asia&Japan Watch by Asahi Shimbun, 22 November 2014)

- See more at: http://www.nikkei.com/paper/article/?b=20141125&ng=DGKKASFS24H1N_U4A121…