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 ...

Jun 21, 2015

Tens of thousands march against austerity in London

Tens of thousands of people joined an anti-austerity march through central London on Saturday, the first major public protest since Prime Minister David Cameron won last month’s general election. Demonstrators, some of whom had traveled from across Britain, snaked through the city from the ...

May 21, 2015

House Republicans restrict 2016 spending on science by sector

U.S. House Republicans voted Wednesday to place limits on funding for scientific research, including climate change studies, as they passed legislation that more narrowly defines their priorities. Many in the American scientific community criticized the bill, which passed 217 votes to 205 and sets ...

Chinese defense spending slows but still tops GDP growth rate

Mar 4, 2015

Chinese defense spending slows but still tops GDP growth rate

China’s central government will increase defense spending at a slower pace than last year as President Xi Jinping overhauls the military and seeks to stamp out the corruption that hinders the country’s combat readiness. The defense budget will rise about 10 percent this year, ...

Feb 3, 2015

Diet enacts extra budget to boost domestic demand

The Diet has enacted a ¥3.12 trillion extra budget for fiscal 2014 to fund an economic stimulus package aimed at boosting domestic demand aggravated by last year’s consumption tax hike and the yen’s plunge. The supplemental budget was approved Tuesday evening in the Upper ...