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

Back to Top