Japan's ruling party race puts legacy of Abenomics in focus

FILE PHOTO: Former Japanese Prime Minister Shinzo Abe, embroiled in a case against his secretary over unreported political funds, holds a news conference in Tokyo, Japan December 24, 2020. REUTERS/Issei Kato

TOKYO (Reuters) - Japan's widening wealth gap has emerged as a key issue in a ruling party leadership contest that will decide who becomes the next prime minister, with candidates forced to reassess the legacy of former premier Shinzo Abe's "Abenomics" policies.

Under Abenomics, a mix of expansionary fiscal and monetary policies and a growth strategy deployed by Abe in 2013, share prices and corporate profits boomed, but a government survey published earlier this year showed households hardly benefited.