The Government of Japan has approved and submitted a JPY90.3 trillion budget for the next fiscal year, beginning on April 1, 2012. The proposed budget will be presented to the country’s parliament early in 2012.
The Japanese government has proceeded with the issuance of further public debt as they were experiencing difficulties in restricting its general spending. The government expects to provide details of its plan for a doubling of Japan’s 5% consumption tax, in stages, probably from October 2013.
