17 October 2001, 10:56 Japan LDP's Kyuma - Parties unable to approve extra budget as unclear
TOKYO (AFX-ASIA) - Fumio Kyuma, acting policy chief of the Liberal
Democratic Party, said the three ruling coalition parties were unable
immediately to approve the government's draft supplementary budget.
The three parties' policy chiefs declined to approve the draft at a
meeting this afternoon as the proposal is unclear on whether the
government will abandon its 30 trln yen limit on new bond issues to
boost the economy, he said.
"Finance ministry officials noted the supplementary budget will
total 2.7 trln yen but the policy chiefs believe the draft is unclear
on whether to keep the 30 trln yen bond limit or spend more to avoid
negative growth," he said.
"We could not have approved the draft at this stage unless the
government showed a much clearer picture," Kyuma told reporters after
the meeting between policy chiefs and ministry officials to consider
approving the draft.
"The government's supplementary budget draft does not include
anti-terrorism spending and, if needed, such spending will be added
later," he said. "We did not discuss the possibility of compiling a
second supplementary budget."
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