Fiscal Judgment Begins discussion for budget preparation next year, Oct. 3 15:58
The advisory body of the Minister of Finance and the Council on Financial System began discussions on the preparation of the budget plan for the next fiscal year from the 3rd. As the pressure to increase spending is expected to increase, such as the economic measures associated with the increase in the consumption tax rate, the issue is how to create a path to fiscal consolidation.
The "Fiscal System Council", which proposes the budget to the Minister of Finance, held its first meeting on the 3rd, for the first time to formulate a budget plan for the next fiscal year, becoming the first "ROK".
At the meeting, Deputy Prime Minister and Minister of Finance Aso said, “Depopulation and declining birthrate and aging population are the biggest long-term issues in Japan. I will work on budgeting. "
On the other hand, the committee members said, “Social security reform focuses on promoting the employment of the elderly, but it is necessary to review the benefits and burdens,” or “from the perspective of correcting disparities between generations. The opinion that “reform should be tackled” is given.
The consumption tax rate was raised to 10% on the 1st of this month, but while the government's spending swells against the backdrop of an increase in social security costs, the composition of providing about 30% of revenues by issuing government bonds equivalent to debt has not changed. Hmm.
While pressures to increase spending are expected to increase in the future, such as economic measures accompanying the increase in the consumption tax rate, it will become an issue how to create a path to fiscal consolidation including benefits and burdens. .