The largest ever extra budget has been approved in Japan, with the government poised to implement an additional stimulus package worth JPY13.9 trillion (USD143bn).
Approval for the additional fiscal measures means that, in total, the government will spend around JPY102 trillion (USD1 trillion) on trying to restore economic growth by March 2010.
Much of the stimulus package will be funded by government bond issues. According to the Ministry of Finance, tax revenues will only fund 45% of the total annual budget - the largest deficit ever recorded.
Having submitted the extra budget to parliament on April 27, the government is hoping to gain final approval for the measures by early next month.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment