Japanese Prime Minister Sanae Takaichi says she will dissolve parliament on Friday and call a snap \u2060election for February 8.<\/p>\n
Ms Takaichi will seek voter backing for increased spending and a new security strategy that is expected to accelerate Japan’s defence build-up.<\/p>\n
The snap vote will decide all 465 seats \u200cin parliament’s lower \u200chouse and \u200cmark Ms Takaichi’s first electoral test since she became Japan’s first female prime minister in October.<\/p>\n
“I am staking \u2060my own political future as prime minister on this election,” Ms Takaichi said in a press conference.\u00a0<\/p>\n
“I want the public to judge directly whether they will entrust me with the management of \u200bthe nation.”<\/p>\n
Calling an early election would allow her \u2060to capitalise on strong public support to tighten her grip on the ruling Liberal Democratic Party (LDP) and shore \u200cup her coalition’s fragile majority.<\/p>\n
The election will test voter appetite for higher spending at a time when the \u200drising cost \u2060of living is the public’s top concern.<\/p>\n
Ms Takaichi promised a two-year halt to an 8 per cent consumption tax \u200con food and said \u200cher spending plans \u200cwould create jobs, boost household spending and increase other tax revenues.<\/p>\n
The prospect of consumption tax cut, which would reduce government revenue by 5 trillion yen ($47 billion) a year, according to \u200bgovernment \u2060estimates, sent the yield on Japan’s 10-year government bonds to a 27-year high earlier in the day.<\/p>\n
A poll released by public broadcaster NHK last week found 45 per cent \u200cof respondents cited prices as their main worry, followed by \u2060diplomacy \u200cand national security at 16 per cent.<\/p>\n
Neighbouring spat<\/p>\n
Ms Takaichi is banking on her high poll numbers to lead the unpopular ruling LDP to victory.<\/p>\n
The LDP has governed Japan almost uninterrupted for decades, albeit with frequent leader changes.<\/p>\n
Ms Takaichi was appointed prime minister in October and her cabinet is riding high in the polls, despite her party’s flagging popularity.<\/p>\n