Much of DPJ`s targeted money of extra budget already released

Last Updated: Saturday, September 5, 2009 - 13:46

Tokyo: Nearly 70 per cent of fund resources
under the fiscal 2009 extra budget, being targeted by the
Democratic Party of Japan (DPJ) to finance some of its key
policies, have already been implemented, government officials
has said.

The DPJ is hoping to squeeze money to realize its
election pledges by modifying the 14 trillion yen
supplementary budget, crafted earlier this year by Prime
Minister Taro Aso`s administration, once it forms a government
in mid-September.

Under the budget, 4.36 trillion yen was allocated to 46
funds to carry out a range of stimulus measures and projects
that DPJ believes involve too much wasteful spending.

Of that sum, the government has already executed about
2.65 trillion yen, according to Kyodo News findings based on
hearings from ministry officials.

Given this situation, it may become increasingly
difficult for the DPJ to raise enough money from the extra
budget to fund its key social welfare programs.

DPJ policy chief Masayuki Naoshima told reporters
yesterday that he will hold a meeting early next week with
Yasutake Tango, the top bureaucrat at the Finance Ministry, to
receive detailed information on budgetary matters.

The DPJ is hoping to raise at least 3 trillion yen from
the extra budget for the year through March 31.

At a news conference yesterday, outgoing Finance Minister
Kaoru Yosano said the DPJ must deal with the budget carefully
as many local governments had already factored in the funds
to design their administrative services.

Bureau Report



First Published: Saturday, September 5, 2009 - 13:46

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