The "Financial System Council", an advisory body to the Minister of Finance, has officially announced its recommendations for the formulation of the budget for the next fiscal year.
As a measure against the new corona, the situation last year with a supplementary budget of over 70 trillion yen was positioned as the "largest exception after the war", and the content strongly emphasizes the need for fiscal consolidation.
On the 3rd, the "Financial System Council," which deliberates on the state's budget, submitted a proposal to the Minister of Finance Suzuki for the formulation of a budget plan for the next fiscal year, and officially announced it.
According to the proposal, as a countermeasure against the new coronavirus, three supplementary budgets were set up, and the situation last year when the total amount increased to 73 trillion yen in the general account "played a major role in protecting the lives and businesses of the people." On the other hand, it has been positioned as the "largest exception after the war" in terms of both economics and finances.
He also pointed out that "we must work to normalize the economy and finances and get out of the" exceptions "" and that it is essential to secure the capacity to respond to crises such as natural disasters and rising interest rates. The content strongly emphasizes the need for fiscal consolidation.
The government's goal of turning the "primary balance", which indicates how much tax revenues can be used to cover the expenses for policies, into the black in 2025, without relying on government bonds, is "frozen." We should steadily proceed with reforms without making policy changes such as. "
Based on this recommendation, the government plans to start full-scale preparation of the budget plan for the next fiscal year and make a decision later this month.