politics

Lower house OKs ¥21 trillion supplementary budget

38 Comments
By Tetsushi Kajimoto

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It urged those concerned to debate earnestly and gain an understanding from the public about how to share burdens broadly.

The burdens will be shared broadly, the bounty to the LDP and its cronies.

Countdown until the announcement of a rise in sales tax.........

-3 ( +16 / -19 )

gain an understanding from the public about how to share burdens broadly. It did not single out any specific funding so

so the public just have to share even more burdens imposed by the LDP, fiscal responsibility not a burden the LDP could consider to bare. That would just be too much, better to tax the population further. What are they going to do after all.

-7 ( +7 / -14 )

However, the national debt, the world's largest, is already more than twice as big as annual economic output,

266% as of 2022.

9 ( +13 / -4 )

"Therefore, constant efforts are needed to reduce annual government bond issuance and rein in outstanding debt."

And to, somehow, also buy the REQUIRED armament systems RECOMMENDED by our 'ally' and 'friend', the U.S., while reducing bond issuance, reining in outstanding debt, and NOT spreading the pain among the people by new and increased taxes on their lives, while also protecting Corporate from any changes in their 'competitiveness' (profitability). Next: The blood from a stone trick...

4 ( +7 / -3 )

My great-grandchildren say no thank you!

12 ( +21 / -9 )

to boost defense spending's share of gross domestic product to 2% within five years, from about 1% now.

Wake up Japanese people!!

4 ( +18 / -14 )

Expect more tax increases, reduced salaries, more burdens for the people in (or of) Japan.

But, hell, the government doesn't care about them anyways.

As long as their pockets are filled and the sheep continue voting for them nothing will change.

Thank you Kishida and associates for yet anothe job (NOT!!) well done.

-1 ( +19 / -20 )

How about a 21 trillion budget for low income families and single mothers???

20 ( +21 / -1 )

And Japan's "enemies" will raise their already military budgets to double that of the planned raise by Japan.

It's a never ending competition of "mine is bigger than yours". The only ones to benefit from this are the military-industrial complex and the corrupt politicians.

Meanwhile on the news last night there was a young salary man living alone who said that he can't afford electricity now and will be resorting to candles. This is the future for millions of Japanese.

-5 ( +13 / -18 )

Given Japan's tattered public finances....

Huh? The main symptoms of an economy struggling to issue debt to fund fiscal spending are extremely high interest rates and rocketing inflation. You could also throw in a bond meltdown or IMF bailout, etc.

Where are the strains in Japan? The country has long seen the opposite trends and appears set to continue that way. Evidence to back up your assertions, Mr/Ms. Journalist!

8 ( +12 / -4 )

@tora

It's a never ending competition of "mine is bigger than yours". The only ones to benefit from this are the military-industrial complex and the corrupt politicians.

I used to think like, but have reconsidered after the invasion of Ukraine started. What can you do if you are attacked and cannot defend yourself because you have no arms? I do not think that Japan (at least now) has any intention to attack anybody but it needs to defend itself against other aggressive countries.

It is sad but it is the reality .

5 ( +12 / -7 )

Trillions of yen produced with a few key strokes that won’t find its way to the Japanese population large.

0 ( +12 / -12 )

Average salary hasn't changed since '97. The only change is that tax has consistently increased.

Literally 25 years behind the rest of the world. Someone fax Kishida and let him know.

-3 ( +14 / -17 )

Printing money is all the LDP knows. It will never end.

The yen is heading the same way as the Lira and the average person has no idea how to hedge against it.

-9 ( +7 / -16 )

I can see more and more Japanese nationals looking overseas as a place to thrive instead of getting taxed to death here in Japan. For example, Malaysia, Hawaii, Bellevue, Bali, Maldives, and maybe Australia. It's already happening. A few of my long time friends are packing their bags next year. Sad...

-7 ( +7 / -14 )

...attacked and cannot defend yourself because you have no arms?

Simple. Japan's bigger "enemies" wiill just use their larger and more sophisticated wepaons, since their military budgets are always much more than Japan's. They willalways have a better tank or the very latest fighter, and Japan will always play catch-up. So japan trying to keep pace is meaningless.

Better to solve the issues using diplomacy. An ageing, declining Japan just can't compete on size/technology/knowhow.

-3 ( +6 / -9 )

Simple. Japan's bigger "enemies" wiill just use their larger and more sophisticated wepaons, since their military budgets are always much more than Japan's. They willalways have a better tank or the very latest fighter, and Japan will always play catch-up.

The same could have been said about Ukraine. Clearly that logic doesn't work. Especially since Japan is an island nation, making it much easier to defend, being surrounded by the natural water defense.

-7 ( +3 / -10 )

The same could have been said about Ukraine. Clearly that logic doesn't work. Especially since Japan is an island nation, making it much easier to defend, being surrounded by the natural water defense.

Japan has no natural resources, and its only real geographical significance is its proximity to a number of the USAs main rivals. No-one would ever launch a seaborne invasion against Japan, they will just bomb it to the ground from a distance.

The bottom line is that the USA will always have strong military presence in Japan, whether Japan pay tribute or not. If they left Japan there would be nothing between them and China.

Also lets not forget that the US military occupation and passive constitution of Japan since WW2 is why Japan was able to become a global economic titan.

-1 ( +4 / -5 )

Have definitely noticed the rise in prices after a 4 year absence! Japan is no longer cheap and the LDP and it's cronies look he'll bent on making it worse! All the while putting itself in debt to buy US junk weapons and thereby help the US out of recession while putting itself further in....

-2 ( +6 / -8 )

Japan (as we constantly are reminded) is resource poor has an ageing population, not some place another country would want to occupy. Massive debt, why would anybody be interested in wasting resources to occupy such a place.

-9 ( +5 / -14 )

Countdown until the announcement of a rise in sales tax........

If it helps the people the Japanese people, no problem. We will pay. Unlike you.

-11 ( +0 / -11 )

Well done LDP. Taking care of the people.

-9 ( +0 / -9 )

This looks like two separate stories. One is about raising future defence spending and the first is about this supplementary budget. The details of the supplementary budget itself are vague here, to say the least, before, oddly, attention is turned to defence. I seem to recall that part of it would be for subsidising oil wholesalers, in lieu of helping out consumers directly. I wonder what other corporate welfare is involved.

-5 ( +1 / -6 )

Japan does need a defence, against the LDP the biggest threat Japan faces. Just look at what they have done.

-4 ( +9 / -13 )

More borrowing, the government and the boj are addicted to money printing..

4 ( +6 / -2 )

These "projections" are going to cost lives. This lower house "team" needs to be fired.

0 ( +1 / -1 )

Well done LDP. Taking care of the people."

Lol...LDP taking care of the people? Hillarious.

0 ( +6 / -6 )

too many words but very unclear outcome,at least what is known that we must sponsor gov shopping of US outdated guns because of US gun selling lobby interests covered by "chinese/russian/DPRK or maybe kaseijin threat"/ rest money will dissapear in LDP friendly businesses as always.

-1 ( +0 / -1 )

Instead of writing ¥21 trillion, how writing ¥21,000,000,000,000. Then people might wake up. Recently between 7:30-8:30pm at my local supermarket there is a rush hour to buy half price food. Dinner ¥200. Not ¥21,000,000,000,000 for American offensive weapons. Our tax money.

0 ( +5 / -5 )

The US owes as much as 24 trillion USD depending on which web site you go to.

Japan owes 6-9 trillion again depending on which site you visit.

Most nations have debt and still manage to function no matter how high it gets as long as they have a stable GDP.

In plain dollar amounts, nobody comes even close to the US debt.

There is obviously ways to cut spending on non essential goods and services in every nation. Generally those things sullied to the already wealthy. Wealthy people never pay their fair share of taxes, (look at Trump) with many paying less than average workers. Until tax systems stop being abused by the wealthy, and every individual and business actually pays the correct tax, it will remain difficult to successfully operate broken systems of government.

-2 ( +0 / -2 )

Generally those things sullied

Generally those things supplied

Oh for an edit button...

0 ( +0 / -0 )

The main symptoms of an economy struggling to issue debt to fund fiscal spending are extremely high interest rates

Aaaah so because the BOJ is printing money willy nilly and buying up all the debt, therefore Japan has NO PROBLEM!

It’s genius. At least some people believe it.

Where are the strains in Japan?

Huh?

Huh?????

Have you not been awake in 2022?

Anyone else struggling to see the strains here in Japan???

-2 ( +4 / -6 )

Wealthy people never pay their fair share of taxes

To the extent that is true in Japan, it is because of ridiculous carveouts such as the mortgage balance deduction that returns millions of yen to home owners, who could afford to buy a house in the first place. And complicated systems that make for a small industry of tax advisors who can navigate the richest through all the loopholes for a fee that is less that the tax bill would be.

In the first place, a ”fair share” means the same rate for all. Not different rates for different people, treating different yen differently.

Go with a flat rate of tax on all consumption, and then anyone who enjoys the benefits of spending their money in Japan will pay the same fair share of it.

With those revenues, fund programs to give the poor a helping hand and defense.

No more unproductive tax advisory industry sucking away productivity, and no more complicated unfair tax system.

2 ( +5 / -3 )

The printer goes Brrrrr = money loses value = inflation takes off to the moon = the same pattern as the BCE.

-1 ( +2 / -3 )

Imagine what the budget would look like if it didn't the mandatory corruption, kick backs and siphoning into the pockets of the elite.

2 ( +4 / -2 )

@Michael Machida Are you SERIOUS!!! Can you really see more and more Japanese nationals looking overseas as a place to thrive instead of getting taxed to death here in Japan and you mentioned HAWAII as a destination!!!. That would be the last place to go there's so much homelessness there and the cost of living is more than Japan. No way!!!

*I can see more and more Japanese nationals looking overseas as a place to thrive instead of getting taxed to death here in Japan. For example, Malaysia, Hawaii, Bellevue, Bali, Maldives, and maybe Australia. It's already happening. A few of my long time friends are packing their bags next year. Sad...*

0 ( +0 / -0 )

Instead of writing ¥21 trillion, how writing ¥21,000,000,000,000. Then people might wake up."

That woud be nice , but I wouldn,t hope for too much.

Countdown until the announcement of a rise in sales tax.......If it helps the people the Japanese people, no problem. We will pay. Unlike you."

Good to know you will pay the sales tax for the the resident gaijin...where can we send you the bill?

0 ( +1 / -1 )

Good to know you will pay the sales tax for the the resident gaijin...where can we send you the bill?

LOL! Sign me up too!

0 ( +1 / -1 )

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