Arab Today, arab today japan pm govt \will stall\ without bond bill
Last Updated : GMT 10:24:43
Arab Today, arab today
Arab Today, arab today

Japan PM: govt \'will stall\' without bond bill

Arab Today, arab today

Arab Today, arab today Japan PM: govt \'will stall\' without bond bill

Tokyo - AFP

Large parts of Japanese public life will grind to a halt unless lawmakers manage to break a political deadlock and pass a new financing bill, Prime Minister Yoshihiko Noda warned Monday. In an appeal for cross-party consensus Noda said at the start of an extraordinary session of parliament that the day-to-day running of government will seize up without agreement on the bill allowing Tokyo to issue new bonds to cover its spending. \"If the current situation continues, bread-and-butter administrative services will stall to the extent that it will have a great impact on people\'s lives, which in turn could be an obstacle to economic recovery,\" he told parliament. \"No government will be able to finance its workings without a special public-bond bill,\" he said. \"Already we see limits on carrying out budgeted local government policies.\" A bill to expand the amount of money that Japan can borrow has fallen foul of politicking, with the opposition refusing to co-operate until they have extracted a definite promise from Noda on when he will call elections. \"Will we return to a futile factional confrontation which prioritises the fight over political power, or will we take the action that needs to be taken and have a debate focused on policies?\" said Noda. \"We have to seek legislation as soon as possible, while having candid discussions among ruling and opposition blocs to seek a solution. \"Let\'s stop the bad habit of taking the annual bond bill hostage and using it for political leverage.\" Japan relies heavily on borrowing to finance its regular spending, creating an ever-worsening public debt problem. The International Monetary Fund says it will owe the equivalent of 245 percent of its approximately $5 trillion gross domestic product next year, the highest among industrialised nations. Tokyo has a budget deficit of 10 percent and the government began warning in September that it was facing a severe cash crunch because of the political deadlock. Then-Finance Minister Jun Azumi said public reserves would \"mostly dry up at the end of November\". Tokyo has not been forced to halt budgetary spending due to a funding shortage since the end of World War II, according to the finance ministry. The affected spending includes tax grants to municipalities, aid for universities and support for government-linked companies, the ministry said in September. Payments to service debts and funding of social security, defence, policing, maritime security, and disaster handling would continue. The opposition-controlled upper house in August censured Noda as part of its campaign to bounce him into elections. The non-binding motion was a symbolic wrist slap signalling their refusal to work with his cabinet, and has tied up passage of any new law. Noda is under pressure after spending a lot of his political capital over the summer as he forced through a bill on doubling sales tax -- in part to begin closing Japan\'s yawning debt hole. Despite the fact that most independent commentators, academics and international bodies agreed it was a sensible thing to do, the opposition had to be cajoled into supporting it. The prime minister swapped a vague promise of an election \"sometime soon\" in exchange for their votes, but his unwillingness to flesh out that promise has irritated his opponents. Opinion polls suggest his ill-disciplined Democratic Party of Japan will fare badly at the ballot box, with voters disillusioned by their three years in power. However, the main opposition Liberal Democratic Party has largely failed to capitalise on Noda\'s sinking approval ratings and many observers predict a popular vote will prove inconclusive. The current extraordinary session of parliament is due to run until November 30.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today japan pm govt \will stall\ without bond bill Arab Today, arab today japan pm govt \will stall\ without bond bill

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today japan pm govt \will stall\ without bond bill Arab Today, arab today japan pm govt \will stall\ without bond bill

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Italy regions back 'big bang' autonomy

GMT 07:10 2017 Monday ,23 October

Italy regions back 'big bang' autonomy
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iraq's Barzani isolated by his drive

GMT 04:36 2017 Tuesday ,24 October

Iraq's Barzani isolated by his drive
Arab Today, arab today Maltese demand justice for murdered

GMT 06:08 2017 Monday ,23 October

Maltese demand justice for murdered
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Lost Australia diver swam miles

GMT 19:09 2017 Monday ,23 October

Lost Australia diver swam miles
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU targets German carmakers

GMT 05:41 2017 Tuesday ,24 October

EU targets German carmakers
Arab Today, arab today Tesla to build wholly-owned plant

GMT 07:55 2017 Monday ,23 October

Tesla to build wholly-owned plant
Arab Today, arab today Sherine Reda frustrated of latest terrorist attacks

GMT 09:03 2017 Monday ,23 October

Sherine Reda frustrated of latest terrorist attacks
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'

GMT 08:12 2017 Saturday ,21 October

Donia Abdel Aziz aspires to return to cinema

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 05:27 2017 Monday ,23 October

Travel plea for conjoined twins

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 08:06 2017 Tuesday ,24 October

Second Palestinian mobile provider enters Gaza

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday