Tokyo governor Yuriko Koike has launched a platform of “Yurinomics” to challenge the “Abenomics” of prime minister Shinzo Abe, questioning Japan’s heavy reliance on fiscal and monetary policy and promising a universal basic income. It also included more unorthodox pledges, such as the elimination of hay fever and an end to unwanted pets being put down.

Launching the general election manifesto for her new Party of Hope, Ms Koike pledged to tax corporate cash reserves, introduce a basic income guarantee and freeze an increase in consumption tax scheduled for 2019.

Her party’s lukewarm stance on stimulus opens up a clear gulf with Mr Abe and the ruling Liberal Democratic party, whose use of fiscal and monetary stimulus has led to Japan’s tightest labour market since 1990.

Ms Koike has become de facto leader of the opposition since launching her new party on the day Mr Abe called a general election for October 22. But she insists she will not stand for parliament herself, hobbling the Party of Hope’s electoral challenge.

“In order to make the economic recovery more real, we would like to see changes in economic policy and society that stick into the nation’s heart,” said Ms Koike, claiming her policies would boost the vitality of the private sector.

At the heart of the manifesto, which was not made available in full on the party’s website, were a set of populist pledges Ms Koike called the “12 zeros” that promise to eliminate everything from nuclear power to hay fever. Ms Koike did not explain how she would end hay fever.

Yuriko Koike’s ‘zero policy’ pledges:

Zero nuclear power Zero corporate cover ups Zero corporate political donation Zero children waiting for places in day care Zero passive smoking Zero packed commuter trains Zero putting down of unwanted pets Zero food waste Zero violation of labour laws Zero hay fever Zero disabled and aged people unable to receive means of transport Zero overhead power cables

The party’s economic platform mixes ideas. Its doubts about monetary stimulus suggest Ms Koike might oppose Haruhiko Kuroda’s reappointment as Bank of Japan governor next year. However, delaying the rise in consumption tax could mean easier fiscal policy.

The proposal to tax corporate balance sheets reflects global frustration at companies piling up cash instead of using it for dividends, pay or investment. South Korea has adopted a punitive tax regime for companies with large cash piles.

Universal basic income — where the state pays all citizens a certain unconditional sum — has become a fashionable proposal for social security reform, partly because of concerns that automation could lead to widespread unemployment. However, the enormous cost means it has not been tried beyond a few experiments.

“This is not something we would introduce today or tomorrow, but with the acceleration of AI, we think it’s necessary to start thinking about a basic income now. From AI to BI — artificial intelligence to basic income,” said Ms Koike.

In keeping with Ms Koike’s conservative politics — she defected from the LDP last year in order to run for the Tokyo governorship — the Party of Hope’s platform calls for a reform of Japan’s constitution. Ms Koike said debate on a revision should be wide-ranging and include the war-renouncing Article 9.

Mr Abe is seeking a modest change to Article 9 that would confirm the legality of Japan’s Self-Defence Forces. With Ms Koike as the main opposition, the election could deliver a huge parliamentary majority for constitutional change, giving Mr Abe a mandate to go ahead.

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