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Special outlays eyed in fiscal ’14 to encourage growth

JIJI

The government’s budget request guidelines for fiscal 2014 will provide for special outlays to implement the growth strategy adopted in June.

The special outlays will mainly cover projects in medicine, agriculture and other areas with strong growth potential, a key component of Prime Minister Shinzo Abe’s “Abenomics” economics policies, officials said.

The government will grant ministries and agencies special budget quotas that exceed spending cuts, the officials said.

Meanwhile, the government will exclude measures to improve social security services, such as support for child-raising families, from budget requests from ministries and agencies that must be submitted by the end of August. This is because the government has yet to decide whether to go ahead with the planned hike of the 5 percent consumption tax rate to 8 percent next April. Additional revenue from the tax increase is to finance social security-related measures.