Jan 30, 2013

Defense outlays see first rise in 11 years

Prime Minister Shinzo Abe’s government said Tuesday it will effectively expand defense spending for the first time in 11 years in its draft fiscal 2013 budget, in the wake of the growing assertiveness of China around Japan-controlled islets in the East China Sea. The ...

Jan 30, 2013

¥156 billion for nuclear projects

The government earmarked Tuesday ¥156.4 billion for the industry ministry to accelerate efforts to scrap the Fukushima No. 1 plant’s reactors and support companies seeking to export nuclear technologies in the draft budget for the next fiscal year. About ¥4.2 billion will go to ...

Jan 21, 2013

Democrats to call for more tax hikes

Senate Democrats plan to draft a budget blueprint that calls for significantly higher taxes on the wealthy, on oil and gas companies and on corporations doing business overseas, reopening a battle over taxes that Republicans had hoped to lay to rest with the “fiscal ...

Jan 17, 2013

Budgetary requests trimmed to ¥98 trillion

Budget requests by government offices for fiscal 2013 in general-account spending totaled ¥97.88 trillion, a reduction of ¥120.9 billion from those compiled under the previous administration, the Finance Ministry said Wednesday. The requests were resubmitted by the offices following the launch Dec. 26 of ...

Jan 16, 2013

Extra budget for stimulus OK'd, second-largest ever

The Cabinet of Prime Minister Shinzo Abe on Tuesday approved a ¥13.1 trillion supplementary budget, the second-biggest of its kind, to fund an economic stimulus package. If it clears the Diet next month as planned, it will bring government spending for fiscal 2012 to ...