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Japan's Lower House passes budget bill for fiscal 2025 NHK

Japan's Lower House has passed a budget bill for next fiscal year starting in April.



Earlier on Tuesday, the chamber's budget committee approved the draft budget. The committee also passed a revision to it based on an agreement among the main ruling Liberal Democratic Party, its coalition partner Komeito, and the opposition Japan Innovation Party.



The governing coalition does not hold a majority in the lower chamber.



Later, the revised bill was discussed at the plenary session. The three parties and others voted in favor, while the largest opposition Constitutional Democratic Party of Japan, the Democratic Party for the People, Reiwa Shinsengumi, the Japanese Communist Party and others voted against.



The budget bill totals 115.2 trillion yen, or about 770 billion dollars.



It was reduced by about 2.3 billion dollars from the government's original plan, as a tax measure is expected to cause revenue reduction. The government will raise the income threshold subject to taxation.



It is the first time in 29 years that an initial budget bill has been revised in the Diet, and the first time in 70 years the budget amount has been cut.



The budget bill will be discussed in the Upper House from Wednesday. The ruling coalition holds a majority in the upper chamber, and aims to enact the budget by the end of the current fiscal year.
Summary
Japan's Lower House has passed a revised budget bill for next fiscal year, totaling 115.2 trillion yen or approximately 770 billion dollars. The initial draft was revised based on an agreement among the ruling Liberal Democratic Party, its coalition partner Komeito, and the opposition Japan
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ID: 8ebdd75f-3d23-476d-bdb9-f2113881b0f6

Category ID: nhk

URL: https://www3.nhk.or.jp/nhkworld/en/news/20250304_17/

Date: March 4, 2025

Created: 2025/03/05 07:00

Updated: 2025/12/08 05:49

Last Read: 2025/03/05 17:41