Regarding fiscal consolidation, the Liberal Democratic Party's Fiscal Reconstruction Promotion Headquarters said that large-scale spending on the response to the new coronavirus is significant in protecting people's lives, but the goal of turning the primary balance into the black in 2025 is expenditure. We have put together a draft report that requires us to stick to it by continuing our reform efforts.
As large-scale spending continues in response to the new coronavirus and the financial situation becomes more severe as the national debt exceeds 1200 trillion yen, the Liberal Democratic Party's Fiscal Reconstruction Promotion Headquarters has issued a report on future financial management. I summarized it.
In this, he pointed out that a series of expenditures are significant in protecting the lives of the people, but pointed out that the burden should not be postponed to the next generation, and said that the primary balance will be in the black in 2025. We want you to stick to your goals.
Then, he said that efforts for spending reform should be continued for the next three years, and to verify the use and effect of the "Temporary Grant for Regional Revitalization" issued to each local government for infection control, and medical expenses. It includes efforts to optimize the system.
On the revenue side, on the other hand, considering that tax reforms are being considered in Western countries, "if necessary, we should carefully discuss from an early stage without establishing a sanctuary."
The Promotion Headquarters will soon formally compile a draft report and submit it to the government.