By RIA Novosti,
Tokyo : Taro Aso’s Liberal Democratic Party is ready to delegate power to the center-left Democratic Party of Japan led by Yukio Hatoyama that won elections with a landslide victory, a government spokesperson said.
Until Sunday’s election victory the conservative LDP had maintained virtually unbroken power in Japan since 1955, apart from a brief 10-month break in 1993.
“Unlike the United States and United Kingdom, we do not have any rules for a handover, so this is the first step,” a government spokesman said, “We will cooperate fully with the new administration for the sake of the country.”
The center-left Democratic Party of Japan led by Yukio Hatoyama, the grandson of former premier Ichiro Hatoyama won a majority of 308 seats in the 480-seat lower house of parliament.
Japan has been hard-hit by the global economic slowdown, with unemployment at a record high, sparking dissatisfaction with Aso’s government.
Hatoyama has pledged a range of ambitious spending proposals on healthcare and education, but analysts have warned that the plans could further escalate the country’s national debt.