Abe eyes large fiscal 2012 extra budget if LDP returns to power

Kyodo

Liberal Democratic Party leader Shinzo Abe indicated Thursday he will swiftly work on a large supplementary budget for the current fiscal year through next March if the LDP regains power in the Dec. 16 Lower House election and he thus is installed as the prime minister.

“The supplementary budget should be large-scale,” Abe said. “It will be compiled to firmly support the economy.”

The former prime minister also said the extra budget will be financed mainly by the issuance of “construction bonds,” as it could become an investment in the future, although he declined to clarify the scale of the budget. “I cannot say at this point,” he said.

Abe’s party is aiming to win a majority in the House of Representatives after the Democratic Party of Japan ousted it from power in 2009, ending over 50 years of almost uninterrupted LDP rule.

Recent polls have shown the LDP leading the DPJ in voter support, fueling speculation Abe could return as the prime minister — a post he held between 2006 and 2007 until his abrupt resignation.