Japan MOF to Sizably Curb FY '06 Social Security Cost Growth.

(From Jiji)

Tokyo, July 4 (Jiji Press)--Japan's Ministry of Finance plans to curb the growth of social security costs in fiscal 2006 from next April by 400 billion to 500 billion yen as part of the government's fiscal consolidation efforts, Jiji Press learned Monday.

Because of the rapid aging of the nation's population, the government's social security spending in fiscal 2006 is expected to increase one trillion yen from the previous year unless the government takes cost-cutting measures.

In recent years, the government has curbed the social security cost increase by about 220 billion yen.

Under the government budget for fiscal 2005, …