CHRONOLOGY

2014 Consumption Tax raised to 8 pct under MoF's 'Arrow Four' fiscal austerity scheme a sharp brake on Abenomics

 

GLOSSARY

MoF fiscal austerity fiscal consolidation via Flow not Stock a rising Total Tax Burden squeezes both the economy and tax revenue
Abenomics Arrow II fiscal stimulus budgeting to be adopted the stimulus would help get the economy moving again and defeat deflation
Abenomics Arrow IV the key hidden MoF fiscal austerity schemes Total Tax Burden to the German level by 2021 and the Swedish level by 2026
EFPC Economic and Fiscal Policy Committee keizaizaisei shimonkaigi a Cabinet Office committee largely under MoF control
FILP Fiscal Investment and Loans Programme zaito FILP Budgets from 1953 expenditure without taxation cf Kishi, Manchuria II Plan
Katayama Plan MoPM local government fiscal reform central/local tax revenues 3/2 but expenditures 2/3 unclear plan of 1/1 overall
Rising Tide Abe Cabinet I a rising tide lifts all boats with fiscal benefits Hidenao Nakagawa LDP Secretary General advocated a GDP growth policy
zaigen ijo fiscal resources transfer sine qua non of local government reform programme cf Trinity of Issues
zaisei toyushi zaito Fiscal Investment and Loans Programme FILP as zaito kaikaku FILP Reform, zaito kikin FILP Fund previously TFB
kofuzei tax transfer local government fiscal equalisation transfers administered by MoPM
MoF okurasho MoF's original name Great Storehouse Ministry the fiscal function dates back to the Nara Period and the 8th century or earlier
seirei Cabinet Order as seirei shitei toshi a designated city fiscal status able to issue LGBs
shuyokoku leading countries as shuyokoku no zaisei jijo fiscal situation of the leading countries
tax revenue transfer local government tax revenue transfer chiho kofuzei fiscal equalisation measures administered by MoPM cf Trinity of Issues
Trinity of Issues Local Government Reform the Katayama Plan issues 1. fiscal resources transfer, 2. subsidies, 3. tax transfer cf sanmi ittai
zeni arahen We're clean broke in Osaka dialect MoF Minister Shiokawa graphically describing the Japanese fiscal situation

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