Doing Business In - Japan
Government
Japan’s bicameral parliament, the National Diet, held its general election for the House of Representatives on August 30th 2009, where the Liberal Democratic Party (LDP) was defeated by the Democratic Party of Japan (DPJ) ending its dominant rule since its formation in 1955.
The word “iron triangle,” has often been used to describe the relationship between the Liberal Democratic Party, the business sector (keiretsu), and the bureaucrats. This relationship has been weakened by the party change, as the DPJ has introduced new changes to government processes such as the dismantling of party policy committee structures and power shifts from bureaucrats to ministers.
The Japanese government has issued a plan to control its national budget deficit, which is expected to rise to 10 trillion yen ($122.53 billion) in 2015, by capping annual spending and new government bond issuance, and potentially raising tax rates.
The word “iron triangle,” has often been used to describe the relationship between the Liberal Democratic Party, the business sector (keiretsu), and the bureaucrats. This relationship has been weakened by the party change, as the DPJ has introduced new changes to government processes such as the dismantling of party policy committee structures and power shifts from bureaucrats to ministers.
The Japanese government has issued a plan to control its national budget deficit, which is expected to rise to 10 trillion yen ($122.53 billion) in 2015, by capping annual spending and new government bond issuance, and potentially raising tax rates.