Japan FY 2020 Budget Bill Clears Lower House
Tokyo, Feb. 28 (Jiji Press)--Japan's House of Representatives passed on Friday the government's fiscal 2020 draft budget, including general-account spending of a record 102,658 billion yen.
The budget bill was approved by a majority vote at a plenary meeting of the Lower House, with support from the ruling Liberal Democratic Party and its Komeito ally, after clearing the Lower House Budget Committee earlier in the day.
The committee voted down a motion submitted by opposition parties to increase funds for measures against the spread of the COVID-19 novel coronavirus.
The fiscal 2020 budget will automatically be enacted in 30 days, before the start of the new fiscal year on April 1, even without a vote by the House of Councillors, the upper chamber, due to the lower chamber's constitutional superiority.
The budget will fund measures to ease the impact of the October 2019 consumption tax hike and deal with a possible slowdown of the Japanese economy following the Tokyo Olympics and Paralympics this summer.
[Copyright The Jiji Press, Ltd.]