Tokyo governor’s new party 'to scrap over-reliance' on Japan's fiscal, monetary steps

The new party led by Tokyo Governor Yuriko Koike on Friday unveiled an election platform that seeks to distance her ‘Yurinomics’ policies from Prime Minister Shinzo Abe’s aggressive stimulus, by cutting reliance on fiscal spending and monetary easing, Reuters said. Launched less than two weeks 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, in an effort to set itself apart from the government on key issues. “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.