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Diet enacts record ¥114 tril budget for FY2023

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Every year Japan breaking own record of previous year,

in 2021 ¥106.61, in 2022 ¥107.6 tril, in 2023 ¥114 tril, in 2024 another record for sure. Just prepare for another tax hike.

https://asia.nikkei.com/Politics/Japan-Diet-enacts-record-budget-of-107.60tn-yen-for-fiscal-2022

https://www.japantimes.co.jp/news/2020/12/21/business/economy-business/japan-record-high-budget/

-6 ( +9 / -15 )

Still, average Japanese households will have to spend 60,000 yen more on food items in 2023 than a year earlier, as businesses are expected to raise prices in the coming months, according to an estimate by Mitsubishi UFJ Research and Consulting.

Crushing for the many families living paycheck to paycheck with decades stagnant/falling wages.

Time to stop shoveling trillions of yen to business in subsidies with the aim of some trickle-down mitigation of the economic effect and start putting yen into the pockets of the people with a UBI.

11 ( +17 / -6 )

and start putting yen into the pockets of the people with a UBI.

Dependence is control, especially when UBI starts to come with strings attached. Be careful what you wish for.

4 ( +7 / -3 )

Let the good times roll

-3 ( +2 / -5 )

Dependence is control, especially when UBI starts to come with strings attached. Be careful what you wish for.

Right, the subsiidies are safer in the hands of businesses.

Then we can be dependent on them.

Maybe urge them to raise wages?

4 ( +7 / -3 )

Then we can be dependent on them.

I prefer the freedom to choose. If I'm wholly dependent on UBI then I might be forced to accept things that I may not want in order to get my monthly pittance. I'll leave that to your imagination, but the past 3 years has been revealing in that respect.

7 ( +9 / -2 )

If I'm wholly dependent on UBI then I might be forced to accept things that I may not want in order to get my monthly pittance.

UBI is not means tested, hence the universal. People are free to work too with more freedom to choose. It is using the tools of monetary easing and corporate subsidies and putting that into the hands of the working population.

The only ones who might feel left out are the LDP and their Japan Inc. cronies.

2 ( +7 / -5 )

Ahhh Japan……….

If the plan doesn’t work the first time, just do it again.

In exactly the same, but waste more money than the last time.

-5 ( +8 / -13 )

"Kishida has said the government will secure the necessary funding by reallocating surplus money from other sources and hiking taxes, among other means. The exact timing of imposing higher corporate, tobacco, and income taxes is yet to be decided."

Now the vow to raise taxes, THAT is a government vow I am sure they will succeed in implementing very quickly -- at least the income tax. When Japan Tobacco says no to a big tax hike but then says instead they'll increase the cost of one pack by 10 yen, the government will buckle. When corporations say no to a tax hike, the government will buckle. When the entire population says no to income tax hikes, the government will say we must cooperate and that they will seek our understanding.

They want to truly help the economy? Don't give 6 trillion to defense. But they will, and they'll subsidize farmers who refuse to become competitive and want wheat and other protectionist measures kept in place, so yeah... ¥60,000 increase per food per household? It'll be double that.

I think this article should go side by side with articles about why people don't want to have children in Japan and why so many young people are fleeing the nation for a better life and future.

1 ( +13 / -12 )

They used to commit to a return to a primary balanced budget (excluding interest payment on the debt) … in the next 5 years. They do not bother anymore!

0 ( +3 / -3 )

What portion of the budget is for fax machines?

-6 ( +4 / -10 )

They give it out with one hand and take it back with another

Who wants children here when there is a hefty 8-10% tax on putting that food on the table?

Then, no wonder that Japanese women aren’t interested in having children

-7 ( +4 / -11 )

The record-breaking budget might want to be changed to the record-breaking national debt.

Cause there is a clock ticking on this debt. If more people are retiring they will need their pensions and require more health care. if there are fewer children, then that means fewer future consumers and taxpayers. If Japan continues to deny immigration exists ( which is probably the policy today but not being openly discussed), then the debt can only increase, but it can't increase forever and ever. Something has to give...either more rises in sales tax which is certainly the most likely solution, or cuts somewhere else in the budget or increases in health care payments, or increased uni costs. The list goes on. But you can't have your cake and eat it.

But one more thing, if the public has to pay more in tax, and pay more for everything else, then they can't save for their future, and that means the Japanese government can't borrow much from the public so much. I just wonder when the clock will run out.

0 ( +1 / -1 )

I really don’t like politicians and that’s anywhere you go, I haven’t nor will I ever bother , my vote is nothing anyways

0 ( +2 / -2 )

Japan's budget needs to prioritize investment in renewable energy and building to stop the hemorrhaging of money from the Japanese economy that flows to fossil fuel states like Russia.

2 ( +2 / -0 )

Abe 234

There is another way: ever increasing use of the printing press to monetize the public debt but this never ends up happily!

0 ( +2 / -2 )

Give money for illegal, under Japanese constitution, to America, for provocation against one of our major trading partners, sanction Russia so inflation and cost of living is out of control, print more money, make people poor. Good policy.

2 ( +3 / -1 )

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