Lower House approves third extra budget of fiscal 2016 to bolster disaster relief, missile defense

Kyodo, JIJI

The House of Representatives on Friday approved another supplementary budget for fiscal 2016 ending March that will provide ¥622.5 billion ($5.4 billion) for disaster relief and defense projects.

The third supplementary budget for fiscal 2016 includes ¥195.5 billion for areas like Hokkaido and Tohoku that were hit by typhoons and earthquakes last year, and ¥170.6 billion to bolster Japan’s defenses from the threat of North Korean missiles.

The Lower House approved the extra budget with support chiefly from the ruling Liberal Democratic Party, its coalition partner, Komeito, and opposition party Nippon Ishin no Kai.

The ruling camp aims to pass the extra budget on Tuesday after discussions in the House of Councilors, the upper chamber.

Since the government has cut ¥1.74 trillion from its original tax revenue estimate for fiscal 2016, it will issue ¥1.85 trillion in government bonds to make up for the shortfall.