Weapons have grown !? Crocodile's mouth-Korona-ka's country's settlement of accounts-July 13, 18:26
National finance expanded by the Korona-ka.
The general account expenditure (budget basis), which was 104 trillion yen in the first year of Reiwa, was 175 trillion yen in the second year of Reiwa.
Last year, in the 3rd year of Reiwa, it increased to 142 trillion yen.
In fact, during this period, tax revenues have reached record highs for the second consecutive year, but the "crocodile's mouth," which indicates the gap between expenditures and revenues, does not seem to close at all, but even "a" tsuno "has grown." It is said.
On the other hand, there are situations in which a huge budget of several tens of trillion yen cannot be used up.
The budget and settlement of the country, which was unusual.
What does it mean to have "weapons" on a crocodile?
(Economic Department Reporter Maiko Oe, Tomoyuki Mineda)
Highest tax revenue ever even in Korona-ka!
why?
This month, the Ministry of Finance announced the "Financial Statement" that summarizes the execution status of the general account for the 3rd year of Reiwa last year.
"Tax revenue" attracted attention in this settlement of accounts.
Last year's tax revenue was 67,037.9 billion yen.
It exceeded the previous year and the second year of Reiwa by more than 6.2 trillion yen, setting a new record high for the second consecutive year.
It is true that the economy, which has been depressed by the Korona-ka, is recovering, but some people may feel uncomfortable when they hear that "tax revenue is the highest ever".
So why did tax revenue reach record levels?
Let's take a look at the circumstances of corporate tax, income tax, and consumption tax, which are called the three core taxes.
Of the tax revenues exceeding 67 trillion yen, the three core taxes account for 84% of the total.
Of these, corporate tax has the largest increase in tax revenue.
Sales increased by 2,408.2 billion yen year-on-year.
The background is that corporate performance is on a recovery trend.
According to the summary of SMBC Nikko Securities, the final profit of the company (the company listed on the first section of the former Tokyo Stock Exchange for the fiscal year ended March 31, March) increased by 38% from the previous year in the last year's financial results.
In this way, corporate performance is on a recovery trend, which has boosted corporate tax revenue.
Then "income tax".
This is an increase of 2,192.4 billion yen.
The main factor was the resumption of economic activity and the improvement of the employment environment.
Furthermore, it is believed that the increase in tax revenue on financial income due to the increase in dividends to shareholders and the rise in stock prices in the stock market also contributed to the overall increase in income tax.
And the consumption tax increased by 917.2 billion yen.
The consumption tax rate was raised to 10% in October of the first year of Reiwa, before the Korona-ka.
For this reason, tax revenue exceeded the 20 trillion yen mark for the first time, even though consumption fell sharply due to the Korona-ka in the following year, Reiwa 2.
Tax revenues increased further last year as consumption picked up.
"Weapons" have grown on the crocodile!
??
Tax revenues were unusually high even in the Korona-ka.
Still, tight financial management continues.
This is a graph showing the financial situation every year.
As anyone who is interested in financial news knows, it is said to be the "crocodile's mouth."
This is because the shape of the graph looks exactly like a crocodile with its mouth open.
The upper chin is the expenditure and the lower chin is the tax revenue.
The large vacant space in the meantime is covered by debt = issuance of government bonds.
Notable is the tip of the crocodile's mouth.
It is the upper chin of Reiwa 2nd and 3rd year.
In the second year of Reiwa, it was 175 trillion yen on a budget basis and 147 trillion yen on a settlement basis.
Expenditures increased sharply to 144 trillion yen in the third year of Reiwa.
This is because huge supplementary budgets were organized one after another in response to the new corona.
An executive of the Ministry of Finance compared the shape of a vertically rising graph to "a crocodile's mouth has grown up to a" tsuno "!"
The amount of new government bond issuance in the second year of Reiwa, where the difference between the upper and lower jaws was widest, was 108.6 trillion yen.
Even if the tax revenue on the lower jaw recovers, the crocodile's mouth will not close anymore.
"Carry-over" "unnecessary" to an unusual scale
Expenditure that hits the upper jaw of a crocodile.
In this settlement of accounts, an even more unusual situation became clear.
It is "carry-over" and "unnecessary".
▽ Carry-over = Use the budget that has not been spent within the fiscal year to the next fiscal year
▽ Unnecessary = Of the planned expenditures, the budget
decree 2nd fiscal year that did not spend or save as a result
In addition to the initial budget, the total expenditure has increased to 175 trillion yen by making three supplementary budgets as a measure against corona.
Of this amount, the budget that was not used within the fiscal year amounted to 30 trillion yen, and it was "carried over" to the next fiscal year.
Even in the settlement of accounts for the third year of Reiwa, the huge budget of 22 trillion yen was carried over without being used.
On the other hand, in the budget for the 3rd year of Reiwa, “unnecessary” occurred on a scale exceeding 6 trillion yen.
The national budget is based on the "single-year principle", which is based on the premise that it will be used up within the fiscal year under the Fiscal Law, but the "carry-over" of the budget before Corona is in the 3 trillion yen to 6 trillion yen range.
Considering that "unnecessary" was in the 1 trillion yen range, the amount of "carry-over" and "unnecessary" for the past two years is an extraordinary amount.
Huge budget Why can't I use it up?
Why was the budget that couldn't be used up so huge?
Looking at the breakdown of the carry-over, the new corona countermeasure business stands out.
Reiwa 2 fiscal year Total carry-over = 30.8 trillion yen
(main cost of carry-over)
▽ Real interest-free unsecured loan = 6.4 trillion yen
▽ Public works = 4.7 trillion yen
▽ Temporary grant for regional revitalization (time saving cooperation to restaurants) = 3.3 trillion yen
▽ Go To Travel = 1.3 trillion yen
Total amount carried over in Reiwa 3 = 22.4 trillion yen
(main expenses carried over)
▽ Temporary grant for regional revitalization (time saving cooperation money for restaurants, free corona inspection, etc.) = 5.7 trillion yen
▽ Public works = 4 trillion yen
▽ Business revival support money = 2.3 trillion yen
▽ My number point business = 1.8 trillion yen
The Ministry of Finance explained the reason why the carry-over occurred: "The application from the local government for the time-saving cooperation money was delayed over the year," "My Number Point business did not start the application within the year." "Business The number of applications for revival support was lower than expected within the fiscal year. "
Then, what kind of budget did "unnecessary" occur?
The following businesses are "unnecessary" because they could not be used up in the budget for the 3rd year of Reiwa.
Main expenses that became unnecessary
▽ Real interest-free unsecured loan = 2 trillion yen
▽ Go To campaign = 900 billion yen
▽ Corona reserve fund = 400 billion yen
Every time the government formulates a large supplementary budget, it has repeatedly explained that it is an emergency response, saying that "it is necessary to prepare for an emergency situation under the unusual situation of the new corona."
One Treasury executive emphasized that he did not waste money, saying, "We are trying to manage the budget soundly at the execution stage, such as recording the unused budget as" unnecessary "."
On the other hand, some executives express a sense of crisis, saying, "The sense of budget has been paralyzed and the tag regarding the sense of scale has come off."
After the House of Councilors election, the Kishida Cabinet will begin full-scale discussions on budgeting for the next fiscal year, but there are many issues such as price measures and defense budgets that accompany an increase in expenditures.
What will happen to the crocodile's mouth in the future?
I would like to take a closer look at how "weapons" will grow and what they will look like in the future.
Maiko Oe ,
Reporter, Ministry of Economic Affairs
Joined in 2009
After working at the Mito Bureau and Fukuoka Bureau, she is currently affiliated.
Tomoyuki Mineda ,
Reporter, Ministry of Economic Affairs
Joined in 2009
After working at Toyama Bureau and Nagoya Bureau, he is currently affiliated.