TOKYO - Japan's government is expected to fund part of its spending for childcare measures by issuing additional bonds over a period of roughly two years, the Yomiuri newspaper reported, raising concerns about an already high public debt burden. The plan will be included in the government's long-term economic platform to be issued in June, the Yomiuri reported on Wednesday,...
TOKYO - Japan's government is expected to fund part of its spending for childcare measures by issuing additional bonds over a period of roughly two years, the Yomiuri newspaper reported, raising concerns about an already high public debt burden.
Prime Minister Fumio Kishida has announced a plan to double the amount of childcare support over the next three years. On the question of financing the major portion of the spending package, Kishida has ruled out the possibility of sales tax hikes, leaving debt issuance as one of the leading options of funding, at least for now.
"The government is foregoing politically unpopular tax hikes, at least for now, when general elections may draw near." Under the proposed financing scheme the government estimates it needs to raise about 3 trillion yen in funds per year for a childcare policy Kishida has put forward to help reverse the declining birth rate.
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