Tokyo governor promises ‘Yurinomics’ to jumpstart Japan’s economy
Tokyo — Tokyo governor Yuriko Koike’s new party unveiled on Friday what it calls "Yurinomics" — policies to revitalise Japan’s economy while cutting reliance on the aggressive spending and monetary easing that are central to Prime Minister Shinzo Abe’s strategy. Launched less than two week’s ago, Koike’s Party of Hope will take on Abe’s ruling coalition in a national election called for October 22. It has made populist calls to freeze a scheduled sales tax hike in 2019 and phase out nuclear power, as part of an effort to set itself apart from the government on key issues, but the fresh approach on the economy was given its own catchy name. "We’ll carry out ‘Yurinomics’ that brings out private-sector vitality, without relying excessively on monetary easing and fiscal spending," the Party of Hope said at a policy launch. "While maintaining the Bank of Japan’s (BoJ’s)massive monetary easing for the time being, the government and the BOJ should work together to seek a smooth exit strate...
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