Japan's Lower House has passed the country's biggest-ever budget, which sets government spending at over 900 billion dollars. The fiscal 2018 budget passed the chamber with majority support from Prime Minister Shinzo Abe's Liberal Democratic Party and its junior coalition partner, Komeito. It includes Japan's biggest-ever defense spending, to cope with North Korea's nuclear and missile programs. The budget has been sent to the Upper House for further debate. If the chamber fails to vote within 30 days, the budget will be automatically enacted. Japan's fiscal year starts on 1st April.
|