Location : HOME > Public Relations & Press Release > Minister's Statement > Fiscal Policy Speech > Speech on Fiscal Policy by Minister of Finance Aso at the 197th Session of the National Diet

Speech on Fiscal Policy by Minister of Finance Aso at the 197th Session of the National Diet

Japanese

October 24, 2018


In order to take the necessary fiscal measures in response to restoration and reconstruction in areas affected by a series of disasters, installation of air conditioners mainly in public elementary and junior high schools, and rebuilding of block walls, we have decided to submit the draft supplementary budget for FY2018. Before requesting deliberation on it, I would like to provide an outline.

(Introduction)

First, a series of natural disasters, including the Northern Osaka Earthquake, the July 2018 heavy rains, Typhoon Jebi, the 21st typhoon of the season, and the Hokkaido Eastern Iburi Earthquake, caused considerable damage across the Japanese archipelago. I would like to offer my deepest condolences to the victims who died due to those disasters and their bereaved families, and express my sincerest sympathy to people affected by the disasters.
The government and relevant organizations will work together to ensure restoration and reconstruction in the disaster-hit areas so that the affected people can resume living with peace of mind as soon as possible.

(Overview of the supplementary FY2018 budget)

Under these circumstances, 727.5 billion yen is budgeted for restoration and reconstruction in the areas affected by the Northern Osaka Earthquake, the July 2018 heavy rains, Typhoon Jebi, the 21st typhoon of the season, and the Hokkaido Eastern Iburi Earthquake under the supplementary budget submitted at this time. In addition, 108.1 billion yen is allocated for the installation of air conditioners mainly in public elementary and junior high schools, and rebuilding of block walls. Moreover, 100 billion yen is included as reserve funds with response to future disasters in mind. To secure financial resources for these measures, government construction bonds will be issued and part of the FY2017 budget surplus will be used.
As a result, the general account budget for FY2018 totals 98,648.4 billion yen, up 935.6 billion yen from the initial general account budget.
Necessary supplementary measures are also planned for the special account budget.

(Concluding remarks)

This concludes my explanation of the outline of the draft supplementary budget for FY2018. I hereby request that the Diet deliberate on this supplementary budget and promptly give its approval.
The Policy of MOF
Budget
Tax Policy
Customs & Tariff
Japanese Governments bonds
Fiscal Investment and Loan Program

Exchequer

Currency

Assets


International Policy
Financial System Stabilization
Policy Research Institute