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Japan enacts record-high budget amid political, public backlash to soaring defense outlays

STORY: Japan enacts record-high budget amid political, public backlash to soaring defense outlays DATELINE: March 29, 2023 LENGTH: 0:00:46 LOCATION: Tokyo CATEGORY: POLITICS SHOTLIST: 1. various of people protesting against rising defence outlays STORYLINE: Japan's parliament on Tuesday enacted a record 114.38 trillion yen (874.77 billion U.S. dollar) budget for fiscal 2023, including record allocations for controversial defense spending plans amid political and public opposition and against a backdrop of the country's dire fiscal health. The government's budget includes a record 6.82 trillion yen (52.15 billion dollars) in defense spending, a 20 percent hike and the highest on record, for the first year of a controversial and unprecedented five-year spending plan. The five-year plan has drawn staunch criticism from the public, opposition parties and scholars, in no small part due to the plan running contrary to Japan's constitutionally-bound pacifist stance. For the year from April, non-tax re

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Panasonic may mark over 300 bil. yen in FY 2008 group net loss

OSAKA, Japan - Photo taken on Jan. 28, 2009, shows the headquarters of Panasonic Corp. in Osaka. Panasonic is expected to report more than 300 billion yen in consolidated net loss in the business year through March due chiefly to additional outlays needed to streamline its manufacturing operations and valuation losses on its stock holdings, sources familiar with the matter said Feb. 1.

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Key panel draws up FY 2004 budget guidelines

TOKYO, Japan - Prime Minister Junichiro Koizumi presides over a meeting of his Council on Economic and Fiscal Policy at his office July 29. The panel drew up basic guidelines for the fiscal 2004 budget calling for outlays to be kept to the size of fiscal 2003, clearing one of the first steps in the budget-compiling process for the 2004 fiscal year.

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Cabinet OKs belt-tightening budget framework for FY 2003

TOKYO, Japan - Prime Minister Junichiro Koizumi (C), Finance Minister Masajuro Shiokawa (R) and Land, Infrastructure and Transport Minister Chikage Ogi (L) prepare to attend a cabinet meeting at the premier's office in Tokyo on Aug. 7. The cabinet approved a belt-tightening fiscal 2003 budget request framework that includes a 3% cut in public works spending and a 2% decrease in discretionary outlays, such as foreign aid.

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Panel approves austere budget limit for FY 2003

TOKYO, Japan - Finance Minister Masajuro Shiokawa (L) and Chief Cabinet Secretary Yasuo Fukuda are seated for a meeting of the Council on Economic and Fiscal Policy on Aug. 6 as Prime Minister Junichiro Koizumi walks behind to take his seat. The council approved a belt-tightening fiscal 2003 budget request framework of 48.1 trillion yen in core general expenditures, including a 3% cut in public works spending and a 2% decrease in discretionary outlays such as foreign aid.

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Takenaka defends extra budget's 4.1 tril. yen public works

TOKYO, Japan - Economic and fiscal policy minister Heizo Takenaka answers opposition questions at a House of Representatives Budget Committee session Jan. 25. Takenaka defended the government's second fiscal 2001 extra budget and its effective 4.1 trillion yen public works outlays as necessary to keep Japan's economy from shrinking sharply.

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Koizumi repeats calls for cuts in gov't-affiliated firms

TOKYO, Japan - Prime Minister Junichiro Koizumi (C) preside over a joint meeting of the Administrative Reform Promotion Office and Special Corporations Reform Promotion Office on Nov. 27, 2001, flanked by administrative reform minister Nobuteru Ishihara (L) and Chief Cabinet Secretary Yasuo Fukuda (R). Koizumi called for slashing outlays for special government-affiliated corporations.

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Koizumi repeats calls for cuts in gov't-affiliated firms

TOKYO, Japan - Prime Minister Junichiro Koizumi (C) preside over a joint meeting of the Administrative Reform Promotion Office and Special Corporations Reform Promotion Office on Nov. 27, 2001, flanked by administrative reform minister Nobuteru Ishihara (L) and Chief Cabinet Secretary Yasuo Fukuda (R). Koizumi called for slashing outlays for special government-affiliated corporations.

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Panasonic may mark over 300 bil. yen in FY 2008 group net loss

OSAKA, Japan - Photo taken on Jan. 28, 2009, shows the headquarters of Panasonic Corp. in Osaka. Panasonic is expected to report more than 300 billion yen in consolidated net loss in the business year through March due chiefly to additional outlays needed to streamline its manufacturing operations and valuation losses on its stock holdings, sources familiar with the matter said Feb. 1. (Kyodo)

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Takenaka defends extra budget's 4.1 tril. yen public works

TOKYO, Japan - Economic and fiscal policy minister Heizo Takenaka answers opposition questions at a House of Representatives Budget Committee session Jan. 25. Takenaka defended the government's second fiscal 2001 extra budget and its effective 4.1 trillion yen public works outlays as necessary to keep Japan's economy from shrinking sharply.

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Extra budget to push Japan FY 2016 outlays over 100 tril. yen

Japanese Prime Minister Shinzo Abe (C), Nobuteru Ishihara (L), minister in charge of economic revitalization, and Finance Minister Taro Aso attend a Cabinet meeting in Tokyo on Aug. 24, 2016. The Cabinet approved a draft second extra budget for fiscal 2016 to stimulate the flagging economy, bringing total public outlays for the year through March to over 100 trillion yen ($996 billion). (Kyodo) ==Kyodo

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Key panel draws up FY 2004 budget guidelines

TOKYO, Japan - Prime Minister Junichiro Koizumi presides over a meeting of his Council on Economic and Fiscal Policy at his office July 29. The panel drew up basic guidelines for the fiscal 2004 budget calling for outlays to be kept to the size of fiscal 2003, clearing one of the first steps in the budget-compiling process for the 2004 fiscal year. (Kyodo)

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Cabinet OKs belt-tightening budget framework for FY 2003

TOKYO, Japan - Prime Minister Junichiro Koizumi (C), Finance Minister Masajuro Shiokawa (R) and Land, Infrastructure and Transport Minister Chikage Ogi (L) prepare to attend a cabinet meeting at the premier's office in Tokyo on Aug. 7. The cabinet approved a belt-tightening fiscal 2003 budget request framework that includes a 3% cut in public works spending and a 2% decrease in discretionary outlays, such as foreign aid. (Kyodo)

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Panel approves austere budget limit for FY 2003

TOKYO, Japan - Finance Minister Masajuro Shiokawa (L) and Chief Cabinet Secretary Yasuo Fukuda are seated for a meeting of the Council on Economic and Fiscal Policy on Aug. 6 as Prime Minister Junichiro Koizumi walks behind to take his seat. The council approved a belt-tightening fiscal 2003 budget request framework of 48.1 trillion yen in core general expenditures, including a 3% cut in public works spending and a 2% decrease in discretionary outlays such as foreign aid. (Kyodo)

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Obuchi urges business leaders to boost capital outlays

TOKYO, Japan - Prime Minister Keizo Obuchi speaks at a New Year's party sponsored by four major Japanese economic organizations in Tokyo on Jan. 5. Obuchi asked business leaders to help boost the Japanese economy by reinvigorating capital spending, suggesting Japan cannot count on fiscal spending alone to put the economy back on a recovery track.