Japan’s incoming Cabinet may reallocate some stimulus spending appropriated for the 12 months ending March, said Hirohisa Fujii, a Democratic Party of Japan (DPJ) lawmaker.
“The new financial minister will decide” on revising the supplementary spending, Fujii said yesterday on TV Asahi’s Sunday Project television program. The incoming government may ask for the return of funds provided to government-run corporations that hire retired bureaucrats, said Fujii, tipped by local media to take the finance portfolio.
Parliament passed a ¥13.9 trillion supplementary budget in May to fund pump-priming by outgoing Japanese Prime Minister Taro Aso. The DPJ-led government may redeploy as much as ¥5 trillion (US$55 billion) of that money, Fujii said in a Sept. 3 interview.
The election defeat of Aso’s Liberal Democratic Party leaves money unspent from that bill available for reallocation by the incoming administration.
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