TOKYO: Japanese Finance Minister SUZUKI Shunichi said Tuesday that the government “is not considering” a hike in defense spending for the five years until fiscal 2027 from about 43 trillion yen.

At its first meeting Monday, a panel of experts under the Defense Ministry proposed that the government study the option of increasing the planned spending in light of higher prices, the yen’s drop and soaring labor costs.

At a press conference Tuesday, Suzuki rebutted the call, saying, “The spending amount was decided because the level would enable the country to thoroughly strengthen its defense capabilities, and the Defense Ministry and the Self-Defense Forces to fully play their role.”

Defense Minister KIHARA Minoru echoed Suzuki’s view at a separate press conference Tuesday. He said: “It is the Defense Ministry’s task to steadily strengthen the nation’s defense capabilities as needed within (the budget). We’re not considering reviewing the spending plan.”

Meanwhile, at Tuesday’s joint meeting of the defense and other divisions of the ruling Liberal Democratic Party, many participants expressed support for the expert panel’s proposal and called for an increase in the planned defense spending for fiscal 2023-2027.

JIJI Press