The government has approved a supplementary budget proposal with a total of 28,922.2 billion yen in the general account to back up the new economic measures.
We plan to issue more than 22 trillion yen of new government bonds after utilizing surplus funds from the previous fiscal year as financial resources.
At a rotating cabinet meeting on the 8th, the government decided on the second supplementary budget for this fiscal year, which will support the new economic measures compiled on the 28th of last month in response to the yen's depreciation and soaring prices.
While adding 29,086.1 billion yen as additional expenditure for economic measures, the total amount of the general account is 28,922.2 billion yen due to the reduction of unnecessary expenditures for this fiscal year.
Of this amount,
▽ 7.817 trillion yen for "efforts to deal with soaring prices and wage increases" such as reducing the burden of electricity and city gas charges for households and companies and curbing fuel prices.
▽ We will include 5,495.6 billion yen in economic support equivalent to 100,000 yen for pregnancy and childbirth, and "acceleration of new capitalism" to foster startups.
In addition, we will set up a new contingency fund of 1 trillion yen in order to prepare for the need to respond economically due to changes in the international situation or the occurrence of a disaster.
On the other hand, in terms of financial resources, tax revenue for this fiscal year is expected to exceed the initial forecast by 3.124 trillion yen, reaching a record high of 68.359 trillion yen.
On top of that, the policy is to issue new government bonds of 22.852 trillion yen, and the amount of new government bonds issued this year will be more than 1.5 times the level of the first supplementary budget established in May this year. increase.
The government will submit this supplementary budget bill to the current extraordinary session of the Diet with the aim of swift enactment.
Concerns over a succession of large-scale countermeasures Contingency funds
Regarding the supplementary budget this time, the government was once considering it at around 25 trillion yen, but in response to a series of strong requests from within the ruling party for an increase, it was increased by around 4 trillion yen.
Although surpluses not used in the budget for the previous fiscal year and excess tax revenues for the current fiscal year will be used as financial resources, the additional issuance of government bonds will amount to more than 22.85 trillion yen.
Since the spread of COVID-19, the government has implemented huge economic measures.In FY2021 and FY2021, the total amount of the general account exceeded 35 trillion yen, and an additional 22 trillion yen of government bonds was issued. Did.
Under the supplementary budget proposal, the government will issue an additional amount of government bonds that exceeds the budget, and further deterioration of the public finances is inevitable.
In addition, in this supplementary budget proposal, a reserve fund of 4.74 trillion yen was appropriated.
In addition to adding 3.74 trillion yen to the contingency fund set up as a countermeasure against COVID-19 and commodity prices, a new budget of 1 trillion yen will be created in order to prepare for the need to respond economically due to changes in the international situation and the occurrence of disasters. We will also set up a contingency fee.
As a result, the contingency budget allocated for the initial budget and two supplementary budgets for this fiscal year will exceed 11 trillion yen in total.
Since the government can disburse reserve funds without going through a Diet resolution, there is criticism that ``we should limit the use of the budget, and a huge reserve fund is contrary to fiscal democracy.'' It is expected that it will be questioned.
Over 3 trillion yen to reduce the burden of electricity and gas
The supplementary budget includes a total of 3,1074 trillion yen as a measure to reduce the burden on households and businesses in response to the soaring energy prices such as LNG (liquefied natural gas) and the rising prices of electricity and city gas. billion yen is included.
Of these, electricity charges are likely to rise further from next spring, so we will subsidize 7 yen per kilowatt-hour for households and 3.5 yen for businesses from January to August next year. .
The government says that a standard household with a monthly usage of 400 kilowatt-hours will receive a ¥2,800 reduction regardless of the rate plan.
On the other hand, in September next year, in order not to go against the trend of decarbonization, subsidies will be reduced to 3.5 yen per kilowatt hour for households and 1.8 yen for businesses.
The government wants to reflect how much the burden has been reduced on the monthly bills sent to each household, and will coordinate with the electric power company about the specific method.
Regarding city gas charges, from January to August next year, we will subsidize 30 yen per cubic meter for households and companies with small annual contract volumes.
For a typical household with a monthly usage of 30 cubic meters, the monthly charge will be reduced by 900 yen.
For September next year, the amount of subsidy will be reduced to 15 yen per cubic meter, and from October onwards, it is undecided whether to continue subsidizing both electricity and city gas.
More than 3 trillion yen for subsidies such as gasoline
The supplementary budget includes 3,027.2 billion yen, along with the cost of measures to reduce fuel prices such as gasoline, in order to curb the impact on people's lives and economic activities due to the persistently high price of crude oil.
Currently, the subsidies that we provide to oil wholesalers are due by the end of the year, but we will continue to adjust the amount of subsidies until September next year.
Specifically, we are currently subsidizing up to 35 yen per liter, but we plan to reduce this to about 25 yen from January to June next year, and further reduce it from June onwards.
Subsidies for gasoline prices, etc. began in late January this year, and 3,178.1 billion yen has already been posted for the rest of the year. will exceed
Promotion of energy saving
Amid concerns over the tight supply and demand for electricity this winter, the government has decided to subsidize the cost of repairing facilities in order to promote energy conservation at homes and businesses.
Of these, for households,
▽ 100 billion yen as a subsidy for repair work such as replacing window glass and window frames
▽ 30 billion yen to promote the introduction of water heaters that can boil water with less power consumption. I was.
In addition, for companies,
▽ 50 billion yen has been allocated to intensively support the introduction of production equipment with high energy-saving performance, and
▽ A business to have experts diagnose energy-saving efforts such as factories and buildings. 2 billion yen has been allocated to
Child and child care support
In relation to children and child-rearing support, 126.7 billion yen is included as "creation of childbirth and child-rearing support subsidies".
A total of 100,000 yen worth of financial assistance is provided to reduce the burden of purchasing child care products, prenatal and postnatal care, temporary child custody, and housework support services during pregnancy and childbirth. This support is for newborns born after April this year.
There is no income limit, and the municipality will decide whether to issue coupons or pay cash.
In addition, as a "safety and security measure for children", in response to the incident in Shizuoka Prefecture where a 3-year-old girl died after being left behind on a school bus, we provided support for installing safety devices on shuttle buses for nursery schools and kindergartens.234 billion yen is included.
In addition, 34.9 billion yen is included for the development of nurseries and other facilities to eliminate waiting lists for children, and 2.5 billion yen is included to support single-parent families in need.
Wage increase and employment insurance finance
The supplementary budget bill includes expenses for expanding subsidies for small and medium-sized enterprises that raise wages and stabilizing the finances of employment insurance, which is under pressure due to the provision of employment adjustment subsidies.
[Wage increase]
▽In line with the minimum wage increase, we will expand subsidies for small and medium-sized enterprises that make capital investments to improve productivity.
Until now, the size of business establishments eligible for subsidies was limited to 100 or less, but this upper limit will be abolished to expand the scope of subsidies, and the amount of subsidies will be increased for businesses with less than 30 employees. Therefore, we appropriated 10 billion yen as necessary expenses.
▽ We will also expand subsidies to small and medium-sized enterprises that are working to raise wages in line with the shortening of employees' working hours.
If a company with 30 employees or less raises wages by 3% or more, it will increase to a maximum of 3 million yen, and if it is 5% or more, it will increase to a maximum of 4.8 million yen, and 2.8 billion yen will be allocated from the labor insurance special account. .
[Stabilization of employment insurance finances]
In light of the increased provision of employment adjustment subsidies to companies affected by the new coronavirus, 727.6 billion yen has been included to stabilize the tight employment insurance finances.
Even if the employment situation deteriorates due to unforeseen circumstances, it will ensure a safety net function such as unemployment benefits.
[Reskilling] Along
with the formulation of the supplementary budget, we will set up a new subsidy menu related to “Reskilling” to acquire new skills.
It subsidizes up to 100 million yen per year to companies that are working to reskill their employees with the aim of acquiring technology such as the digital field, which is expected to grow.
In the past, up to 15 million yen was provided annually for companies that conduct vocational training.
Since the necessary expenses can be covered from the initial budget for this fiscal year and FY2022, we are only requesting revision of the system without including the amount in the supplementary budget proposal.
Minor health insurance card integration fee
The supplementary budget bill includes 34.4 billion yen for the cost of abolishing the health insurance card in two years and integrating it with the My Number card.
Specifically,
▽ 22.4 billion yen for building a system that allows online confirmation of integrated card information so that it can be used not only for face-to-face medical treatment but also for online medical treatment.
▽ We recorded 5.6 billion yen for the cost of repairing the systems of institutions that operate medical insurance, such as health insurance associations and national health insurance, and publicizing and publicizing to the public and medical institutions.
Stimulate inbound tourism and revitalize the tourism industry
The supplementary budget includes expenses to stimulate demand from foreign tourists, so-called "inbound demand," in order to restore the earning power of the region by taking advantage of the weak yen.
Of this amount, 16.3 billion yen was appropriated for intensive measures, etc., in preparation for the Osaka-Kansai Expo in 2025.
We will strengthen the dissemination of information about events that can provide "special experiences", such as the limited opening of Himeji Castle's castle tower, and ▽ sightseeing spots where you can touch Japan's nature, such as snow resorts.
In addition, 100 billion yen was appropriated for projects that support efforts to revitalize the local tourism industry and increase added value.
We will support DX (digitalization) to repair aging accommodation facilities, remove abandoned buildings that are damaging the local landscape, and to eliminate labor shortages such as accommodation facilities and improve productivity. .
Related to the release of treated water accumulated at the TEPCO Fukushima Daiichi Nuclear Power Plant
The supplementary budget bill this time calls for the creation of a new fund to support fishermen, in light of the planned release of treated water containing radioactive substances accumulated at the Tokyo Electric Power Company's Fukushima Daiichi Nuclear Power Station around next spring. 50 billion yen is included as expenses.
Amid concerns about harmful rumors caused by the release of treated water, the new fund will support the development of new fishing grounds so that fishermen can operate with peace of mind in the future.
Strengthen development and production of semiconductors
The supplementary budget bill includes a total of 1,303.6 billion yen for the cost of developing research and development and production bases for semiconductors, which are becoming increasingly important for economic security.
Among these, in the field of next-generation semiconductors, in July this year, in response to the agreement between the Japanese and U.S. governments for joint development in the economic version of "2 plus 2", we will establish a research and development base in Japan and develop technology. 485 billion yen was included as expenses for promoting the
In addition, we have decided to add 450 billion yen to the fund set up to develop cutting-edge semiconductor production bases in Japan.
Furthermore, in addition to "sensors" for smartphones and automobiles, 368.6 billion yen is included as expenses for strengthening domestic production capacity for widely used semiconductors such as "power semiconductors" used in industrial machinery. is included.
Strengthening food security
In order to strengthen food security, the supplementary budget includes 164 billion yen for domestic production of grains and fertilizers that depend on imports, as well as projects for stable procurement.
Among these, approximately 42 billion yen will be invested in a project
to convert
paddy fields into upland fields in order to increase the production of domestically produced wheat and soybeans.
Approximately 27 billion yen is included in projects such as the maintenance of
In addition,
approximately 10 billion yen has been allocated to businesses in which food manufacturers switch to domestic raw materials and develop new products.
Countermeasures against malicious business methods including psychic sales methods
The supplementary budget bill includes a total of more than 3.1 billion yen in expenses for strengthening the system of counselors at the National Consumer Affairs Center of Japan and enhancing consumer education as countermeasures against fraudulent business practices, including psychic sales. rice field.
▽In order to support local governments working on countermeasures against fraudulent business practices, including psychic marketing, the establishment of a new business, the "Special Fraud Against Malicious Business Laws" with a fixed subsidy rate, and the enhancement and strengthening of local consumer administration, such as the early detection of troubles. 2 billion yen as the cost of planning.
▽ 1 billion yen for strengthening the system of counselors at the National Consumer Affairs Center, conducting online training, digitizing consumer consultations, extending the storage period of consultation information, etc., in order to effectively respond to the spiritual marketing law.
▽ 120 million yen is included in
strengthening and enhancing consumer education to prevent damage .
Finance Minister Suzuki "Necessary expenditures to work on fiscal consolidation again"
Finance Minister Suzuki emphasized his intention to work on fiscal consolidation again, while acknowledging that the supplementary budget bill decided by the Cabinet is necessary to protect people's lives and the economy.
After the rotating cabinet meeting on the 8th, Minister Suzuki held a press conference, saying, ``In order to protect the lives and livelihoods of the people, we need to carry out the necessary fiscal stimulus without hesitation. It will be a great support for low-income people who have a particularly large amount of money, ”he said.
On the other hand, regarding measures to reduce the burden on electricity bills, he said, "We cannot allow huge measures to last long, and we need to be aware of the outflow of national wealth to resource-rich countries through trade deficits. The current measures include electricity and gas prices." We are also thinking about an exit strategy, such as reducing the subsidy amount in September next year."
On top of that, regarding the issuance of more than 22 trillion yen of new government bonds, he said, ``It is true that the fiscal situation is becoming more severe. It is important to promote responsible economic and fiscal management," he said, emphasizing his intention to work on fiscal consolidation.