Finance minister Yoshihiko Noda, who is expected to run for an election to choose the next chief of the Democratic Party of Japan to succeed Prime Minister Naoto Kan, has called for the formation of a grand coalition between the ruling DPJ and the Nos. 1 and 2 opposition parties, the Liberal Democratic Party and Komeito.
Mr. Noda, who will probably be the only candidate to call for tax hikes in the immediate future, said he would like to seek a grand coalition in order to form a "save-the-nation Cabinet."
Given the control of the Upper House by the opposition forces, Mr. Noda wants to secure smooth passage of important bills such as the third supplementary budget for fiscal 2011 and the fiscal 2012 budget through a grand coalition.