Japanese parliament convenes regular session
Japan’s parliament is scheduled to convene a regular session today.
The parliament will convene until June 15th and will debate a variety of social spending bills proposed by Prime Minister Kishida.
The Kishida administration also looks to pass its fiscal year 2022 budget. Initially approved by Kishida’s cabinet at $940 billion, this budget is the tenth straight record-breaking budget. The bill contains a provision that would boost defense spending by 1%, making it the 10th straight year that defense spending has been expanded. The legislation also contains an additional $58 billion for research into creating a next-gen replacement for the F-2 fighter jet.
Japan’s announcement of expanded defense spending comes as the situation in Taiwan becomes dire. Japan has repeatedly reaffirmed its commitment to protect the island country from Chinese aggression. They are drawing up joint plans to defend against an invasion with the US and signed a partnership with Australia in recent months. In this session, expect the increased defense spending to stay in the bill throughout debates. Furthermore, expect Japan to make more assertive efforts to push back on Chinese aggression, including expanded joint military exercises and possibly a newly equipped fighter jet in the coming year.
Wake up smarter with an assessment of the stories that will make headlines in the next 24 hours. Download The Daily Brief.
