DPJ Suffers Crushing Defeat; LDP Wins Most Seats

The loss seems to have been over the proposed sales tax increase, which would have been a strong negative for GDP, so this result is equity friendly:

“Public support for the DPJ rebounded when Kan took, but tumbled quickly after he floated a rise in the sales tax from 5 percent to help rein in debt.”

“Critics blame Kan’s eagerness to hike the rate for causing the DPJ’s major defeat in Sunday’s Upper House election.”

Japan Headlines:

DPJ Suffers Crushing Defeat; LDP Wins Most Seats

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