Japan's Finance Minister Katayama Satsuki said that the government will drastically review and cut redundant subsidies and tax benefits in response to outside criticism that relevant departments have identified only three projects that may be cut in a voluntary review aimed at finding cost savings opportunities. Katayama said on a Fuji TV program that the government will seek to drastically cut spending to show that the policy is not just about excessive spending. Katayama said that the government will not issue new bonds to fund consumption tax relief; it will obtain funds by maintaining market confidence. Tax revenue is expected to be slightly higher than expected.

Japan's Finance Minister Katayama Satsuki said that the government will drastically review and cut redundant subsidies and tax benefits in response to outside criticism that relevant departments have identified only three projects that may be cut in a voluntary review aimed at finding cost savings opportunities. Katayama said on a Fuji TV program that the government will seek to drastically cut spending to show that the policy is not just about excessive spending. Katayama said that the government will not issue new bonds to fund consumption tax relief; it will obtain funds by maintaining market confidence. Tax revenue is expected to be slightly higher than expected.