Mr Mallon told councillors that a further 1% spending cut
in 2013-14 which was thought to be a possibility would not now happen.
The spending cut
plan calls for continuation by the government of trimming public works outlays at 1-3 percent a year, which would lead to a total cut of 3.9 trillion yen to 5.6 trillion yen.
"We should keep our word to the American people and keep the spending cuts
you signed into law." Senate Republican Leader Mitch McConnell, who helped secure the deal that avoided the "fiscal cliff," said Obama needed to lay out specific spending cut
ideas and abandon his tax push.
Finance Minister Sadakazu Tanigaki on Monday criticized a reported Democratic Party of Japan pledge to implement a 10 trillion yen government spending cut
over the next three years, saying it mimics Prime Minister Junichiro Koizumi's fiscal reform drive.
The plan would have let each member of Congress propose a single spending cut
or package of cuts anywhere in the federal budget and then required the House to vote on each cut.
According to the report, during a tense closed-door meeting, Republican leaders presented their members with the choice of adding spending cut
amendments to the Senate's bill or else proceeding with a simple up-or-down vote.
Mikio Aoki, secretary general for the LDP in the House of Councillors, said the dominant party of the coalition will discuss spending cuts
in earnest after the government releases the specifics of its spending cut
Looking at thousands of fiscal measures adopted by 16 advanced economies since the late 1970s, Austerity assesses the relative effectiveness of tax increases and spending cuts
at reducing debt.
INCOME tax reforms proposed in the draft Scottish Budget will only provide relief from public spending cuts
for a year, a think-tank have warned.
ROMA (CyHAN)- Italian Prime Minister Matteo Renzi met with regional governors on Thursday to discuss spending cuts
worth 4 billion euros (5 billion U.S.
THE voluntary sector is bearing more than its fair share of public spending cuts
, according to a new report.