Nov 21, 2015

Japan to pledge step toward fiscal rehabilitation

The Japanese government will soon announce a basic budget policy that will take a steady step forward on fiscal reconstruction, sources said on Friday. The government will basically maintain its plan to curb a rise in general expenditures in the three years from fiscal ...

Oct 30, 2015

U.S. Senate passes budget deal to avert default

The U.S. Senate passed a bipartisan, two-year budget deal early Friday that boosts federal spending by $80 billion, reduces a government shutdown threat and raises the debt ceiling through the end of Barack Obama’s presidency. The bill passed the House of Representatives on Wednesday ...

Sep 29, 2015

Senate vote to OK stopgap spending bill

Over the opposition of the most conservative republicans in the chamber, the senate is set to pass a spending bill to prevent the government from shutting down this week. Tuesday’s expected vote comes after a 77-19 tally Monday easily beat a token threat to ...

Aug 26, 2015

Japan fiscal 2016 budget requests to hit record ¥102 trillion

Budget requests by Japan’s central government offices for the new fiscal year from next April are set to total a record ¥102 trillion ($853 billion), due primarily to social security spending growth in a rapidly aging society, government sources said Tuesday. The requests for ...

Aug 25, 2015

Farm ministry to request 14.8% rise in 2016 budget

The Ministry of Agriculture, Forestry and Fisheries will seek ¥2.65 trillion in its budget request for fiscal 2016, up 14.8 percent from its initial budget for the previous year, according to informed sources. For the year starting next April, the ministry will request ¥458.8 ...

Aug 22, 2015

Industry ministry to seek ¥116 billion to promote innovation

The Ministry of Economy, Trade and Industry plans to request ¥116.6 billion for projects to promote innovation under the government’s fiscal 2016 budget, more than 2½ times the amount earmarked under the 2015 budget, it was learned Friday. Among such projects are those to ...

Jul 24, 2015

Administration adopts budget request rules for fiscal 2016

At a Cabinet meeting Friday the Abe administration adopted budget request guidelines for fiscal 2016 that call for a 10 percent cut in discretionary policy spending and set a ¥4 trillion special quota for priority areas, including privatization of public services. Government agencies will ...

Britain cuts spending in new austerity drive

Jul 9, 2015

Britain cuts spending in new austerity drive

Britain’s finance minister, George Osborne, unveiled fresh austerity measures Wednesday to slash debt, evoking the plight of crisis-hit Greece in the first purely Conservative budget in almost two decades. Osborne drastically cut welfare spending to honor campaign promises to forge ahead with austerity after ...