Tokyo Governor Yuriko Koike’s Party of Hope will consider taxing the cash reserves of large companies, according to a campaign manifesto released Friday.

Koike has rapidly assembled an alternative conservative party to challenge Prime Minister Shinzo Abe’s long-ruling Liberal Democratic Party in the Oct. 22 general election. While opinion polls indicate her party is unlikely to win the election, a substantial loss of seats could prompt the ruling coalition to oust Abe as LDP leader.

The document said that corporate tax reserves exceeded 300 trillion yen ($2.7 trillion) nationwide. It provided no further details.

Some of the other pledges contained in the Party of Hope’s manifesto include:

Freeze sales tax increase planned for 2019

Phase out nuclear power by 2030; seek to expand renewables to 30 percent of energy mix

Pursue debate on changing constitution, including pacifist Article 9

Source:
courtesy of BLOOMBERG

by Isabel Reynolds

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