Japan to Focus Budget on Carbon Reductions, Digital Reform

Politics

Tokyo, July 6 (Jiji Press)--The Japanese government will set up a special spending quota for growth fields such as carbon reductions and digital transformation under its budget for fiscal 2022, which begins next April, Finance Minister Taro Aso said Tuesday.

Aso unveiled the plan as part of budget request guidelines he outlined at a meeting of Prime Minister Yoshihide Suga's Council on Economic and Fiscal Policy.

The budget request guidelines seek to reduce discretionary policy expenditures such as public works outlays by 10 pct from the fiscal 2021 budget to finance spending under the special quota.

The government is expected to adopt the guidelines as early as Wednesday. Each government agency will be given until the end of August to file a budget request.

The government's economic and fiscal policy guidelines, adopted in June, call for focusing funding on carbon reductions, digital reform, regional revitalization and child-rearing support.

[Copyright The Jiji Press, Ltd.]

Jiji Press