The Finance Ministry gave the Cabinet a 79.69 trillion yen fiscal 2006 draft budget Tuesday that will allow it to keep new government bond issuance below 30 trillion yen for the first time in five years.
Thanks to projected corporate tax revenue increases and spending cuts, the ministry was able to limit the amount of bonds it issues to 29.97 trillion yen -- down 12.8 percent from this year and the lowest in five years.
Also helping were planned rollbacks in income and residential tax breaks next year, the ministry said.