Finance Minister Yoshihiko Noda said Friday the government has no plans to create a second extra budget during the current Diet session to finance postdisaster reconstruction work, rejecting demands by opposition parties.
The administration should avoid “jumping to a conclusion” over an additional supplementary budget for fiscal 2011 before looking into reconstruction plans by regional governments hit hard by the earthquake and tsunami in March, Noda said.
Noda also said that if the first extra budget proves insufficient, the administration will respond “by using its contingency funds” that can be mobilized when the Diet is adjourned.
A ¥4.02 trillion disaster relief budget enacted earlier this month has been paying the bills for the early stages of rebuilding.
The Liberal Democratic Party and New Komeito, the main opposition parties, have urged Prime Minister Naoto Kan to compile a second budget by the scheduled June 22 end of the Diet session or face a no-confidence motion against his Cabinet.
In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.