The Government of Japan has decided to increase defence expenditure of approximately 43 trillion yen (about 3.2 trillion USD) over the five years from FY2023, not evenly each year, but in advance. In the first year, FY2011, the amount will be increased from approximately 5.2 trillion yen (excluding US military realignment costs) in the initial FY2010 budget to approximately 6.5 trillion yen. The relevant officials revealed this on 12 December. The ruling party is working out a plan to combine tax measures to partially finance the funds with an increase in corporate tax and tobacco tax and the diversion of the special income tax for reconstruction.
The Japanese Government estimates the total amount of top-up defence spending at around JPY 17 trillion. It has decided that in order to urgently strengthen defence capabilities, it is necessary to raise the amount all at once in FY23-25 to close to 9 trillion yen, so that equipment can be procured in a flexible manner.
Source: https://news.yahoo.co.jp/articles/53a0d9adc042a17bf3b8c5b84ab690219a2bf221
Source 2: https://www.47news.jp/8682809.html
Comment section: https://news.yahoo.co.jp/articles/53a0d9adc042a17bf3b8c5b84ab690219a2bf221/comments
https://www.reddit.com/r/japan/comments/zk1mnd/japanese_government_to_increase_defence_spending/
1 comment
good job