Next year's budget plan exceeding the largest ever 102 trillion yen December 21 6:13 without stopping the expansion of expenditure
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The government's budget plan for the next fiscal year was the largest ever, with a general account totaling more than 102.60 trillion yen. The challenge is how to show the path to financial soundness without stopping the expansion of spending.
The budget plan for the next fiscal year, which was decided by the government on the 20th, was 102 trillion 65.8 billion yen, surpassing the current fiscal year by 1.2 trillion yen, a record high for the eighth consecutive year.
Of this, social security expenditures such as medical care and pensions are over ¥ 1.7 trillion this year due to growth due to aging and new policy costs such as free higher education for low-income households. This was a significant increase.
In addition, spending has increased significantly as a result of strengthening infrastructure for disaster prevention and mitigation, and extensive measures to support the economy.
On the other hand, tax revenue is expected to reach a record high of ¥ 63.5 trillion due to an increase in the consumption tax rate. It deteriorated for the first time in years.
Aso Deputy Prime Minister and Finance Minister said at the conference after the budget proposal was decided, “It has become a budget that aims to balance economic revitalization and fiscal consolidation by continuing efforts to reform expenditures,” but the path to fiscal reconstruction Is not visible.
As the so-called “baby boomer” begins to turn 75 and social security costs will increase further in 2022, there is a need for early implementation of the reforms that have been undertaken.