Japan cabinet to review key pledges amid tight budget conditions
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Last Updated: Wednesday, November 18, 2009, 14:39
  
Tokyo: Amid tight budgetary constraints, Japanese cabinet has decided to review some of the economic measures pledged during the election campaign.

The ruling party lawmakers have said that Japanese Prime Minister Yukio Hatoyama's cabinet yesterday agreed to sort out economic policy priorities for fiscal 2010 under the leadership of Deputy Prime Minister Naoto Kan.

In the face of a shortfall in tax revenue, the government led by the Democratic Party of Japan is finding it difficult to raise enough money for its key policies aimed at increasing disposable household income, without increasing the nation's already ballooning debt.

Seiji Maehara, Minister of Land, Infrastructure, Transport and Tourism, said he would be open to trimming 600 billion yen in spending requested by the ministry to make some of the country's expressways free in fiscal 2010.

The cabinet also laid out basic guidelines for a planned second extra budget for fiscal 2009, but left its size and deadline open, the lawmakers said.

According to the guidelines presented at cabinet meet said that the extra budget will focus on measures to improve employment conditions and revive the flagging economy, especially through stimulating demand for environmentally friendly products and services.

Bureau Report


First Published: Wednesday, November 18, 2009, 14:39


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