Government adopts ¥8.5 trillion stopgap spending package

Finance Minister Satsuki Katayama speaks during a news conference after a Cabinet meeting on Friday
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The government adopted a stopgap budget plan with about ¥8.5 trillion in general-account spending on Friday to cover expenditures for the first 11 days of fiscal 2026, which begins on Wednesday.The government remains committed to enacting a fiscal 2026 regular budget by the end of fiscal 2025, Finance Minister Satsuki Katayama said at a news conference
"We'll submit a provisional budget to parliament in preparation for unforeseen circumstances," she said.Parliament is expected to approve the first stopgap budget in 11 years on Monday
While a provisional budget typically covers only essential expenses such as social security benefits, the latest plan includes funding for new programs, including making high school tuition free.The House of Representatives, the lower chamber of parliament, passed the fiscal 2026 regular budget on March 13 after deliberations were shortened due to its election in February
Opposition parties are demanding sufficient debate on the budget in the House of Councilors, the upper chamber, making its passage by the end of this fiscal year on Tuesday unlikely.The regular budget will automatically take effect on April 12 even without Upper House approval, as the country's Constitution gives the Lower House precedence over the Upper House in budgetary matters.Of the expenditures under the stopgap budget, ¥2.7 tillion will be used for social security programs, including pension and welfare benefits
Tax grants to local governments will total ¥5.1 tillion
Defense expenditures are set at ¥187.2 billion.The budget also includes ¥47.7 billion for making high school tuition free and ¥14.9 billion for free elementary school lunches.Revenue is estimated at ¥64.4 billion, including ¥39 billion in tax revenue
The remaining shortfall will be funded through the issuance of financing bills.

KEYWORDS
Finance Ministry(https://www.japantimes.co.jp/tag/finance-ministry), budgets(https://www.japantimes.co.jp/tag/budgets), Satsuki Katayama(https://www.japantimes.co.jp/tag/satsuki-katayama)
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