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Japan's New Budget to Boost Growth, Employment
Source: breitbart.com
Source Date: Thursday, December 09, 2010
Country: Japan
Created: Dec 13, 2010


TOKYO, Dec. 9 (AP) - (Kyodo)—Prime Minister Naoto Kan instructed his economic ministers Thursday to boost Japan's growth and improve its employment conditions with the fiscal 2011 budget to be drafted later this month.
The ministers reconfirmed that the government will cap the issuance of new bonds at around 44 trillion yen (about $525 billion). They will adopt next week guidelines for the budget for the next fiscal year starting in April.

"I want you to compile a budget that could help Japan to recover its vitality, focusing on (boosting) growth and employment," Kan told the ministers, who gathered at his office.

Revenues for the upcoming year, including those from tax as well as debt issues, could be up to around 90 trillion yen, according to government officials. Initial budget requests filed by government agencies in August totaled about 97 trillion yen, meaning the government will have to expand nontax revenues and cut outlays substantially.

Sticking points remain as to how the government could secure funds to raise the monthly child allowance. Whether it could keep paying 50 percent of basic pension benefits had also become a focal point since the Finance Ministry proposed temporarily reducing the share due to fiscal constraints.
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