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Lawmakers form bipartisan parliamentary group on establishment of independent fiscal institution

  • August 28, 2021
  • , Asahi , p. 7
  • JMH Translation

By Sakakibara Ken

 

Lawmakers have launched a bipartisan parliamentary group in a bid to establish an “independent fiscal institution (IFI)” that analyzes and projects the nation’s finances from a neutral position detached from the government and political parties. Many advanced nations have such an institution as a way to restrain the government and ruling parties, which tend to expand expenditures. But Japan has not had such an institution.

 

The group is called a “group of bipartisan lawmakers for the establishment of an independent fiscal estimation institution.” It was launched in June with former Upper House member of the Liberal Democratic Party (LDP) and former education minister Hayashi Yoshimasa (who resigned as a member of the Upper House on Aug. 16 to run in the next Lower House election), Komeito Upper House leader Nishida Makoto, and Constitutional Democratic Party of Japan Special Assistant to the Leader Osaka Seiji serving as co-representative founders. The group has been joined by 39 members from six major political parties and aims to establish an IFI in the Diet within a few years. (Abridged)

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