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Japan gov't eyes new budget account to focus on child care spending – media

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TOKYO (Reuters) – Japan’s government may set up a new budget account to manage issues related to child care. Expenditure related to fund reform,


Business Daily reported on Monday.

Prime Minister Fumio Kishida pledged to double childcare spending to reverse Japan’s declining birthrate, make it easier for married couples to work and put husbands on parental leave, This way they can share more of the household chores fairly.

The new account will be created by partially merging the two existing accounts of the Ministry of Welfare and the Nursing Family Agency, which will be run by the latter and endowed with Greater ad hoc spending flexibility.

The new account will be on top of the existing one

Japan has a special budget.

However, the government is struggling to secure a permanent source of funding for planned child care spending, which some lawmakers estimate will cost 8 trillion yen to be done, given another new spending plan to double defense spending over the next three years.

In parallel, the government has committed to Achieve a primary budget surplus excluding new bond sales and debt service costs by the fiscal year 52.

Multiple rounds of massive fiscal stimulus over the past few years in response to the COVID outbreak Getting results Japan has the highest public debt 25% of annual economic output, by far the heaviest in the industrialized world. 225

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