• Kyodo

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The government will finance its planned spending of around ¥6 trillion from fiscal 2016 for reconstruction in Tohoku areas hit by the 2011 earthquake-tsunami disaster without any new tax hikes or selling off assets, according to sources.

The budgeting reflects the Abe administration’s desire to promote fiscal consolidation and could trigger a backlash from disaster-hit municipalities that are slated to shoulder part of the spending.

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