概算がいさん要求ようきゅう 122ひゃくにじゅうに兆ちょう円えん台だいの見通みとおし 物価ぶっか上昇じょうしょう踏ふまえ 過去かこ最大さいだいを更新こうしん

On the 29th, in preparation for the drafting of next years national budget, each ministry has submitted their budget requests to the Ministry of Finance.

Demands that took rising prices into account were widely accepted, leading to an overall increase in expenses. As a result, the total requested amount is expected to reach a new record high, with the general account projected to be in the 122 trillion yen range.

In this years budget request, demands that take into account rising wages and procurement costs have been widely accepted, and for discretionary expenses based on policy decisions, it has become possible to increase the amount even without the previously required reductions.

This is expected to push up overall expenses, resulting in the total requested amount reaching a new all-time high, with the general account projected to be in the mid-122 trillion yen range.

There are also ministry-specific factors for the increase, and the Ministry of Health, Labour and Welfare’s requested amount is approximately 34.79 trillion yen, which is over 480 billion yen more than this fiscal year’s budget, reflecting increased costs for medical care and pensions due to the aging population.

The Ministry of Finance has set the requested amount for government bond expenses, needed for the redemption and interest payments of government bonds, at over 32.38 trillion yen—more than 4 trillion yen higher than this fiscal years budget—due to the continued upward trend in long-term interest rates.

The Ministry of Land, Infrastructure, Transport and Tourism will request more than 7 trillion yen for the next fiscal year, which is over 1 trillion yen more than this years budget, in order to strengthen measures against aging infrastructure and other issues.

In addition, the Ministry of Education, Culture, Sports, Science and Technology is requesting the abolition of high school tuition fees; the Ministry of Agriculture, Forestry and Fisheries is seeking consolidation of farmland to increase rice production; and the Ministry of Economy, Trade and Industry is proposing support for small and medium-sized enterprises affected by tariff measures. There have been a series of requests addressing these and other new policy issues.

Many of these include requests without specifying concrete amounts, so the actual requested total is expected to increase further. In the upcoming budget compilation, assessments with clear priorities will be required.

Kato, Minister of Finance: Budget compilation in an inflationary phase Regarding the budget requests for the next fiscal year, Minister of Finance Kato stated at a press conference after the cabinet meeting on the 29th, We are truly entering a new phase of inflation, not the deflation we have seen until now. I believe that this time, each ministry has made their budget requests based on this situation.

On that basis, Minister Kato stated, The Ministry of Finance intends to engage in thorough discussions with each ministry during the budget compilation process, taking into account the budget requests and demands submitted by each ministry, and while thoroughly implementing expenditure reforms, we aim to achieve both economic revitalization and fiscal soundness as we work on the budget.

In addition, regarding requests for tax system revisions, Minister Kato said, Basically, tax system revisions are discussed mainly by the partys Tax System Research Committee, but up until now, the committee has maintained the stance that if there is to be a significant tax cut, a stable source of revenue to match it must be secured.

Basically, based on the perspectives weve had so far, I want to firmly establish a tax system that responds to the current economic situation, he said.