The Nikkei reports this morning: Japan to earmark 3 trillion yen for growth strategy

  • The Japanese government plans to set aside more than 3 trillion yen ($29.3 billion) in next fiscal year’s budget to advance Prime Minister Shinzo Abe’s plan for economic growth
  • Funding for this special bracket would be squeezed out of discretionary spending for the fiscal year starting April 1, according to informed sources
  • Ministries told to cut discretionary outlays by at least 10% from the current level of roughly 14.7 trillion yen.
  • Ministries could then request up to 30% of the reduced amount as growth strategy spending
  • The government will not set a firm spending cap at the request stage because Abe will only decide at year’s end whether to raise the consumption tax to 10% in October 2015

More detail at the link