Japan Passes Budget Amid Kan’s Fight Over Financing Bills
This article is for subscribers only.
Japan’s lower house of parliament passed Prime Minister Naoto Kan’s record 92.4 trillion yen ($1.1 trillion) budget amid fighting over related legislation to finance the world’s largest public debt.
The lower house, controlled by Kan’s Democratic Party of Japan, approved the measure for the fiscal year beginning April 1 early today by a vote of 295-158. The budget becomes law within 30 days regardless of whether it is voted on by the opposition-controlled upper house.