Japan Mulling Using Construction Bonds for Defense Funds
Tokyo, Dec. 13 (Jiji Press)--The Japanese government is considering the use of construction bonds to partially pay for the development of Self-Defense Forces facilities, it was learned Tuesday.
The move is part of efforts to secure funding for the drastic reinforcement of its defense capabilities, and is expected to mark a major shift in the way Japan covers its defense expenditures.
Construction bonds have been used for public works projects, such as road, bridge and port construction, that would benefit future generations as well, but have not been used for defense expenditures, due to the short operation life of defense-related facilities.
However, there are calls from members of a government panel on ways to boost Japan's defense power, as well as members of the ruling Liberal Democratic Party, for using construction bonds for defense funds.
The government has told the LDP and its coalition partner, Komeito, that it is considering the use of construction bonds, according to informed sources.
[Copyright The Jiji Press, Ltd.]