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Japan Abe Faces Battle On Reforms Despite Vote Win - Yahoo News

A quarterly survey of business sentiment released Monday by the Bank of news Japan showed a slight deterioration in the outlook for coming months. Conducted after Abe delayed a sales tax hike that had been planned for next year but before Sunday's election, it showed businesses anticipate free slack demand and rising costs. "Abenomics is still halfway through, and I feel a strong sense of responsibility to push it further," said Finance Minister Taro Aso, who retained his seat in parliament. Abe's agenda includes labor market reforms and securing a trans-Pacific trade agreement that is strongly opposed by the powerful farm and medical lobbies. He successfully wagered that voters would stick with him despite the recession and qualms among many in Japan over Abe's broader agenda, which includes restarting nuclear plants idled after the March 2011 Fukushima disaster and expanding the country's military role. The Liberal Democrats held 295 seats before the election, and fell short of forecasts that they could win as many as 320 seats. The main opposition party, the Democratic Party of Japan, won 73 seats a stronger showing than many had expected. But the party's leader, Banri Kaeda, lost his seat and the party remains weak and in disarray after it lost power in 2012. The Japan Communist Party, a traditional protest vote option, nearly tripled its seats to 21, while another opposition party, the Innovation Party, took 41 seats.
Read more: http://news.yahoo.com/japan-abe-faces-battle-reforms-034500811.html

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