Not only does the Fiscal Investment and Loan Program — the government’s “second budget” — need to be trimmed but it also needs to sever its financial life support to problematic entities such as the Japan National Railways Settlement Corp., an advisory body said July 23.

An interim report released by a special panel under the Fund Operation Council, an advisory body to the finance and posts and telecommunications ministers, said a further whittling down of the program, dubbed “zaito,” was necessary to match the government’s fiscal reconsolidation efforts.

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