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Fiscal 2004 Draft Budget Sends Ambiguous Signals.
(From Journal of Japanese Trade & Industry (JJTI))
Byline: Tani Sadafumi
Japan's government has compiled a draft budget for fiscal 2004, the period from April 2004 to March 2005. Just marginally larger than its predecessor, this general budget is an austere one. Although the effects on fiscal 2004 will be light, there are indications of future tax increases, including a higher consumption tax rate. Now that the realization is setting in that there no longer exists latitude for pork-barrel budgets as a means of influence peddling, pressure to spend has been abating and tax increases have ceased to be taboo as a topic of discussion. Even so, there still ...
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