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Japan votes on 'Abenomics'
03:12 - Source: CNN

Story highlights

Japanese begin voting in snap parliamentary elections

Dismal quarter pushes Japan into recession, prompting snap elections

Japan's PM Shinzo Abe frames election as a referendum on his 'Abenomics' policies

CNN  — 

Japanese began voting Sunday in parliamentary elections described by Prime Minister Shinzo Abe as a referendum on his flagship economic policies.

Abe called for the snap election last month, following news that the country had unexpectedly slipped into recession, dealing a blow to his much-vaunted “Abenomics” – the stimulus and economic reform package he introduced since taking power in 2012.

“The election will be held to ask the public whether we will (move) forward with Abenomics or end it,” Abe said when announcing the closure of parliament in November.

Recent polls have shown that Abe’s Liberal Democratic Party has a strong lead over the main opposition party but turnout is expected to be low.

READ: Why Abe wants an election

Strange timing

An election wasn’t required until late 2016, which has led to considerable speculation as to why Abe, with a sizable majority in the lower house – 295 out of the 475 seats – would risk ceding power so early.

E. Keith Henry, analyst and founder of Asia Strategy, a Tokyo-based government policy consultancy, said he found the timing “puzzling.”

“Why call an election when you have such a dominant position?”

Indeed, polls suggest that a majority of the public don’t understand why Abe is calling an election at this time, and are critical of the decision to incur the cost during another period of recession. Voter turnout is expected to be low.

Polls put support for the ruling (LDP) at around 30%, with between 10% and 13% support for the Democratic Party of Japan (DPJ), the main opposition party.

The LDP has been in power nearly constantly since 1955. During this period, the DPJ have only governed twice, briefly in the 1990s and again from 2009 to 2012.

READ MORE: Japanese PM Shinzo Abe’s election gamble puts policies on the line

Gamble

Ultimately, Abe’s election gamble will pay off if he can convince the average salaryman or woman that his economic policies will benefit ordinary Japanese.

While a key component of Abenomics has been extra government spending, a sales tax hike this year and rising costs have taken their toll on small businesses and their customers.

In a bit to boost his election fortunes, Abe delayed a sales tax hike planned for October 2015. His special adviser on economic affairs, Etsuro Honda, has called for a further $25 billion in cash handouts and tax cuts to kickstart the economy.

But it’s not clear whether this will be enough to satisfy voters.

“Abenomics is no good at all,” said Shuichi Kobayashi, the fourth-generation owner of a 100 year-old tofu shop owner in Tokyo, who is finding recent economic conditions a threat to his livelihood.

“Our life is getting tough.”

READ MORE: Japan elections: Is Abenomics working? It depends who you ask

CNN’s Euan McKirdy, Yoko Wakatsuki, Andrew Stevens and Naomi Ng contributed to this story.