By Linda Sieg

TOKYO (Reuters), – Fumio, Japan’s Prime Minister, is out to steal the thunder of opposition parties at this month’s general election. He mimics their critiques Shinzo Abe’s “Abenomics”, promising a shrinking income gap and bolstering the middle class.

Kishida was the foreign minister of Abe’s Liberal Democratic Party (LDP). He could assist in limiting his losses by appealing to the opposing party by calling for “new capitalism”, which would help spread the growth benefits.

After a massive win in 2017, the LDP will face an opposition that is more united than ever in almost a decade. It’s expected that seats in 2017 will be lost by the LDP.

The ruling bloc will likely keep its majority in the lower house and, therefore, hold on to power. However, large losses could make it more likely that Kishida is elected as a short-term premier.

The long-standing LDP used the strategy of borrowing from the opposition’s policies playbook with great success.

Steven Reed is a professor emeritus at Chuo University. He stated, “If voters cannot understand the difference then it favours that party in power.”

After Yoshihide Sug, then prime minister of Japan, resigned after one year and his ratings were in disarray over the handling of COVID-19.

Kishida – whose victory in the party race ultimately relied on Abe’s help and whose cabinet includes Abe acolytes – has not abandoned central tenets of Abenomics https://www.reuters.com/world/asia-pacific/japan-ruling-party-executive-calls-290-bln-stimulus-package-2021-10-14: massive monetary and fiscal stimulus.

“Kishida admits Abenomics has ended deflation. So rather than criticizing it, he’s saying disparities grew, and the distribution of wealth is necessary,” said an LDP lawmaker speaking under condition of anonymity.

Still, Kishida’s campaign acknowledges that nearly nine years of “Abenomics” stimulus under Abe and Suga failed to cure gaps that widened https://www.reuters.com/world/asia-pacific/japan-confronts-rising-inequality-after-abenomics-2021-10-12 as the ranks of workers in less-secure, low-paid jobs grew.

The LDP’s platform stated that it would “rebuild an economically strong middle class through a new capitalism”. This is in line with the call of Japan’s main opposition Constitutional Democratic Party of Japan (CDPJ), to “restore society with a strong 100-million-strong middle class”.

ABENOMICS ARE NOT ABANDONED

Last week, Kishida launched a flagship panel https://www.reuters.com/world/asia-pacific/japan-pm-kishida-launches-flagship-panel-look-into-wealth-redistribution-2021-10-15 to look into wealth distribution, arguing market competition alone would not “deliver the fruits of growth to the broader population”.

However, the LDP platform dropped Kishida’s request for an income doubling program and a capital gains taxes hike. This had scared the stock market, which was a key beneficiary of Abenomics. He is now vulnerable to being criticised for his flipflopping.

Since its inception in 1955, the pro-business LDP has been in control for many decades and supported a variety of policy options, from pro-market reform to big government.

It is evident that Kishida has a different mantra than the CDPJ.

While the opposition party believes redistribution should be a condition of growth, Kishida says growth must take priority. This is in line with Abe’s long-held position.

Koichi Nakano, Sophia University’s political science professor, said that he had to sound “sort of new” and sound critically, but not overdo it on the critical.

The lack of details regarding funding in Japan has come under criticism from both the ruling and the opposition parties. It was a result of Japan’s enormous public debt.

While Kishida’s first ratings were higher than Suga’s before he bow out, they were less than most premiers, which is worrying for his party.

The LDP can still count on organised groups for members, even if they are not able to vote.

Nakano explained that “The LDP platform doesn’t have to be credible” – it is sufficient for voters not to vote or not to vote.