There is no possibility that an economic pump-priming package will be drawn up in the latter half of this fiscal year due to financial constraints, a top Finance Ministry official said Sept. 1.
Vice Finance Minister Takeshi Komura told a news conference that the nation’s coffers had “no money whatsoever” to spare for measures such as tax cuts or extra public works spending. “Steps such as tax reductions require funds, and I do not think we should issue deficit-covering bonds and leave the tab for future generations to pick up,” said the ministry’s highest ranking bureaucrat.
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