politics

Japan to review fiscal health goal with calls for more public spending

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Well it’s not like they have postponed fiscal responsibility continuously in at least the last 20 years. 30? Since the 80s?

1 ( +8 / -7 )

Almost straight from the party's playbook from the 1970s, and the first oil crisis that hit Japan. The more things change, the more they stay the same.

5 ( +9 / -4 )

The government raised consumption tax to 10 percent from 8 percent in 2019 to help attain the target.

Regressive taxes that hit the working poor the hardest, to pay off decades of wasteful spending on pork projects like the Olympics.

Maybe time for another raise as the government is subsiding oil wholesalers. And handing out money to the Ukraine.

And don't forget the return of GoTo to rev up the summer travel season!

2 ( +8 / -6 )

The government also expects record tax revenue in the current fiscal year thanks to higher corporate tax income in the wake of the recovery of the pandemic-hit economy.

‘But the government have been giving tax payer money to large corporate companies? Of course the 50% tax on fuel has helped. So it’s a give it take it scenario. With a little off the top for old men.

1 ( +3 / -2 )

aims to put its primary balance....into the black 

Why? What would that achieve, exactly, apart from raising recession risk?

If it's spending they're concerned about, they can cut the ever-expanding police and military budgets. I'm just kidding. They won't do that.

4 ( +6 / -2 )

into the black in the year through March 2026

Typo - should be 3026.

-2 ( +4 / -6 )

The Japanese government can’t be proud to see the people of Japan become basically worse off as taxes rise,can they?

5 ( +6 / -1 )

Shinzo Abe is the culprit who raised the consumption tax from 8 percent to the current 10 percent. He just did a nice turnaround.

3 ( +4 / -1 )

new words but song remained same old/proverb from my country/

0 ( +1 / -1 )

Japan to review fiscal health goal with calls for more public spending

"Fiscal heath and "more public spending" in one sentence = your usual LDP oxymoron.

The Japanese government is set to re-examine its goal of achieving fiscal consolidation in fiscal 2025 due to growing calls within the ruling Liberal Democratic Party to boost public spending to prop up the economic recovery, which is now threatened by rising raw material prices, senior LDP members said.

Only considering Abe's watch, how many times was the goal of sanitizing the budget kicked down the road. How many times over the last 20 years, 30 years, etc? The day a new goal post is announced is the move of said new goal post expected...

The world's third largest economy aims to put its primary balance -- tax revenues minus spending except to pay interest rates on past debt -- into the black in the year through March 2026. The government raised consumption tax to 10 percent from 8 percent in 2019 to help attain the target.

Hey, I though the rise in VAT was to cover for public health / pension expenses? Looks like Kyodo did a typo here. (#sarcasm)

But hopes for fiscal restoration are diminishing, given recent price surges, initially triggered by supply chain disruptions from the pandemic and later exacerbated by the Ukraine crisis.

Never let a crisis go to waste. The 2008 financial crisis was milked for over a decade. The Gods be thanked for COVID and then Ukraine, eh? (#sarcasm)

The LDP must be hoping Taiwan gets invaded in a decade or so to have a new bandwagon to jump onto.

Calls for more fiscal spending are increasing among a group of LDP members including former Prime Minister Shinzo Abe to ensure the economy is put back on a steady growth path.

Abe = Abenomics 1.0, Suga = Abenomics 2.0, Kishida = Abenomics 3.0, etc.

Happy I don't have kids of my own. When I see my friends' kids I see a generation without any future...The parents of the next generation (my friends) is doing their best to leave them with a home and their savings, that is everything they can do. The next generation (their kids) is not looking at having kids on their own. Japan's future is bleak, really bleak...

-5 ( +3 / -8 )

Just what are the politicians doing?

It seems that they do very little except talk.

My son at university here wants to leave Japan as soon as he graduates.He works part time and has already seen the black economy and shifty work practices that have influenced him to do so.

-3 ( +1 / -4 )

Major developed country

Japan isn't a major developed country !

Japan is developing or underdeveloped !

If a government has to force the public to spend more by raising prices for everything then it's not good.

Too much on military spending and not enough support for the public.

-8 ( +1 / -9 )

When I see my friends' kids I see a generation without any future...

There will quite possibly be a 5-10 year period in there where things really suck, but the kids can go overseas for a time and return after the reset happens.

Japan does get stale sometimes, but when it reforms, it can really turn things around. Meiji era, post WWII, being the previous examples. But the current situation is stale… if I were a youngster I don’t think I’d be coming to Japan right now.

-1 ( +1 / -2 )

if a government has to force the public to spend more by raising prices for everything then it's not good.

100%

Too much on military spending and not enough support for the public.

1%.

Japan has been running 40 trillion yen deficits annually and racking up more than a quadrillion yen in the process. The annual defense budget was 5 trillion or so… so where do you suppose the rest of the budget was being blown on?

No pre-conceived answers please folks - the pie chart of how Japan blows money each year is available and one can see where the money is supposedly going.

The Japanese politicians have to have the country live within its means, sooner or later.

-1 ( +1 / -2 )

There seems to be a lot of construction around Tokyo, etc. but you rarely or never hear of foreign manufacturers building a new multi-billion dollar electric battery plant in Japan like was just announced in Georgia, USA. Japan may do well profiting off business in other countries but I think more foreign direct investment needs to be encouraged.

2 ( +2 / -0 )

The world's third largest economy aims to put its primary balance - into the black in the year through March 2026

ROFL...what are they smoking?

-3 ( +3 / -6 )

Quick quick go spend all your hard earned money that's not worth much , because Japan needs more weapons

-3 ( +1 / -4 )

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