Japan Diet Enacts Record 107-T.-Yen FY 2022 Budget

Politics

Tokyo, March 22 (Jiji Press)--The Diet, Japan's parliament, on Tuesday enacted the government's fiscal 2022 budget, including funding for measures to fight the novel coronavirus and achieve Prime Minister Fumio Kishida's policy of creating a new form of capitalism.

This marked the fourth-earliest enactment of a regular state budget in post-World War II history. The regular budget for the year from next month calls for general-account spending of 107,596.4 billion yen, registering a record high for 10 years in a row.

It was approved at the day's plenary meeting of the House of Councillors, the upper chamber of the Diet, by a majority vote, with support mainly from the ruling coalition of the Liberal Democratic Party and Komeito, and the opposition Democratic Party for the People. The budget cleared the House of Representatives, the lower chamber, last month.

The DPFP, in a rare move for an opposition party, voted for the state budget, as it did in the Lower House vote, welcoming Kishida's remarks showing the government's readiness to consider unfreezing the so-called trigger provision to realize a temporary gasoline tax cut as a measure to curb surging gasoline prices.

Earlier on Tuesday, the fiscal 2022 budget was approved by the Upper House Budget Committee by a majority vote, with the LDP, Komeito and the DPFP giving their backing.

[Copyright The Jiji Press, Ltd.]

Jiji Press