Japan's record-high FY2023 budget to be enacted this fiscal year

The Lower House of Japan's Diet has passed a record-high draft budget for the fiscal year that begins in April. It will be enacted this fiscal year, in line with the Constitution.

The fiscal 2023 general-account draft budget of some 114 trillion yen, or more than 834 billion dollars, is the first to surpass the 110 trillion-yen mark.

The draft was put to a vote in a Lower House plenary session on Tuesday.

Prior to the vote, Makihara Hideki of the main ruling Liberal Democratic Party explained that the draft includes a necessary defense budget for the first year of a five-year 315-billion-dollar plan to upgrade Japan's defense capabilities.
He also said it is extremely important to show the world that Japan has the will and capability to protect itself.

Noma Takeshi of the main opposition Constitutional Democratic Party said he firmly opposes the draft's defense-related provisions. He said they lack rationale and necessity and put more burden on the people, due to a tax hike.

The draft was passed with the support of the LDP, its coalition partner Komeito and others, and was sent to the Upper House.

Japan's Constitution stipulates that a budget is automatically enacted 30 days after its draft passes the Lower House, whether or not the upper chamber votes on it.