Kishida: Household Budgets to Be Considered When Increasing Defense Spending

The Yomiuri Shimbun

13:03 JST, January 26, 2023

Solid financial resources will be needed for the drastic strengthening of Japan’s defense capabilities, but consideration will be given to household budgets, Prime Minister Fumio Kishida said Wednesday at a plenary session of the House of Representatives.

During question time centering on the policy speech he delivered Monday to open the ordinary Diet session, Kishida sought understanding from each party on the target of ¥43 trillion for defense spending over five years from fiscal 2023, which starts in April.

“It is essential to secure solid financial resources,” Kishida said, adding, “We will give sufficient consideration to the impact on households and small and medium-sized enterprises.”

Some have argued that if tax hikes are to be implemented, the lower house should be dissolved to call a general election as a litmus test to determine whether the policy should be approved.

On this issue, Kishida said, “I will make a decision on the matter in my authority as prime minister.”

Much attention has also been paid to who will be selected as Bank of Japan Gov. Haruhiko Kuroda’s successor.

“We will make a decision appropriately while also keeping an eye on economic trends,” Kishida said.