LDP's Moriyama Says to Coordinate for Extra Budget

Tokyo, April 13 (Jiji Press)--Hiroshi Moriyama, secretary-general of the ruling Liberal Democratic Party, said Sunday that he will coordinate to submit a supplementary budget during the ongoing ordinary session of the Diet to fight inflation.

"We will have to respond (to inflation) with a supplementary budget," Moriyama told reporters during his visit to the southwestern city of Ibusuki, Kagoshima Prefecture. It is "desirable if possible" to submit an extra budget during the current session, he noted.

Regarding the size of a possible budget, Moriyama said, "We would like (to compile it) without issuing deficit-covering bonds."

Earlier in the day, Moriyama said in a speech in the prefectural capital of Kagoshima that it would require 7 trillion to 8 trillion yen in fiscal resources to raise the minimum taxable income to 1.78 million yen per year, as sought by the opposition Democratic Party for the People.

"Given Japan's fiscal situation, we cannot rely on deficit-covering bonds," he stressed.

[Copyright The Jiji Press, Ltd.]