Japan Ruling Party Bloc Pushes for Big Jump in Extra Budget

A group of lawmakers in Japan’s ruling Liberal Democratic Party urged Prime Minister Sanae Takaichi to craft an extra budget much larger than what’s been indicated thus far as she puts the finishing touches on her economic package.

The Responsible and Expansionary Fiscal Policy Caucus called for an extra budget worth about ¥25 trillion ($161 billion) to fund the forthcoming stimulus, according to the proposal the group submitted to Takaichi on Tuesday. The amount far exceeds the roughly ¥14 trillion reported by local media to be under consideration. A year ago, former Prime Minister Shigeru Ishiba rolled out a ¥13.9 trillion spending plan.