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New Japanese PM hopes to prime pump

Published By United Press International
TOKYO, Dec. 19 (UPI) -- Shinzo Abe, Japan's prime minister in waiting, plans to use government spending in an effort to lift the country's economy, sources told The Japan Times.

The sources told the newspaper Wednesday Abe plans to end the spending cap adopted by the Democratic Party of Japan. The DPJ created what is known as the medium-term fiscal framework in an effort to slow the growth of Japan's debt.

The Liberal Democratic Party, a center-right group that has ruled Japan for most of the years since 1955, returns to power Dec. 26 when Abe will be formally named prime minister.

Also Wednesday, LDP Vice President Masahiko Komura said plans include spending 10 trillion yen ($118.7 million) on public works projects. The money is to be put into the economy to prime the pump before the fiscal year ends March 31.
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Tour de France concludes in Paris
Race winner Bradley Wiggins of Great Britain (C) stands between second place finisher Christopher Froome of Great Britain (L) and third place finisher Vincenzo Nibali of Italy on the presentation podium following the final stage of the Tour de France in Paris on July 22, 2012. Wiggins of Great Britain became that country's first ever overall winner of the Tour de France. UPI/David Silpa