Japan’s rank in terms of GDP per capita has fallen down to the 24th place of all the countries of OECD, an organization composed of industrially advanced nations. She is no longer a big, powerful country in the world. But the current government is intended to compile a financial plan so that the nation could become robust again. An illusory idea of Prime Minister Takaichi to make the nation dominant will make it fatigued.
PRIME MINISTER’S LIES OVER DOMINANT STATUS OF LJAPAN
Bold financing versus financial bankruptcy
A draft budget of the general account for the fiscal 2026 of the Takaichi government accounts for in total 122 trillion and 309.2 billion yen in the concept of ‘strong economy and bold financing’, the biggest scale with an increase by 6.2% of the figure as of the initial period of last year.
Its financial expansion policy shows, in terms of expenditure, an allocation of 31 trillion and 275.8 billion yen to make interest payment of government bonds, and, in terms of revenue, a planned issuance of the bonds counting 29 trillion and 990.2 billion yen. This kind of budget is compiled in the face of the interest rate surge following the end of zero interest rate and a cheap yen environment.
The outstanding balance of government bonds amounts over 1,000 trillion yen. The expansionary finance policy eventually leads to bankruptcy of the country’s finance.
Let’s voice loudly No! War
The military budget (spending by the Ministry of Defense and releted expenditure) for the fiscal 2025 accounts for in total, approximately, 11 trillion yen: this means the government has attained its goal to spend 2% of the GDP (based on the figure of the fiscal 2022) earlier by two years.
In the draft budget of next fiscal, 9 trillion and 35.3 billion yen in total is appropriated for outlay by the Ministry of Defense, which is a surge by 334.9 billion yen from the figure as of the initial period of the previous fiscal. The entire sum exceeds 9 trillion yen, the biggest in the history, recording the greater figure consecutively for 12 years.
The military expenditure is characterized by ‘multi-layered coastal defense capabilities’, which respond acutely to massive changes in combat phases as well as an earlier arrangement of capabilities to attack bases of adversaries. An amount of 100.1 billion yen is appropriated to deploy a massive number of ten types of drones in order to deter aggression and build up a defense system by the end of the fiscal 2027.
The Self Defense Forces (SDF) is being converted to be ‘a real combat troop’, and, consequently, the ruling elite of the country gain a lower threshold to go to a war. We have to raise loud voices of No! Wars.
Investment in cutting edge technologies
The Takaichi government has decided to invest in the crucial 17 fields, including AI and shipbuilding, stressing ‘crisis management and investments for economic growth’. In the domains of AI and semiconductor, in particular, it has allocated 1.9 trillion yen, following the increase in the fiscal 2025 supplementary budget of 6.4 trillion yen.
As for Rapidus Corporation, a semiconductor manufacturer, the government has invested a sum of 100 billion yen in the fiscal 2025 and then in the fiscal 2026 it adds another 150 billion yen to assist the company. The administration will implement a financial support policy on its R&D with an amount of 930 billion yen in the fiscals 2026-2027.
We must not forget the fact that all the past government’s efforts to invigorate semiconductor industries had ended in vain.
People’s life must be improved
Premier Takaichi made a new year statement, in which she emphasized to ‘strengthen and enrich the Japanese archipelago’. She is enthusiastic in investing in the high technology fields as well as in boosting military capabilities, but no policy is provided to ‘improve people’s livelihood substantially.’ She has just proposed a limited level of perfections in the lives of people to hold partners under her control, the Ishin, and the Kokumin=the Democratic Party for the People.
Meanwhile, an increase in the government bonds issuance under the environment of surging interest rate represents an extremely big burden to pay for interests in terms of refinancing bonds, including the balance of existing bonds. That will lead to rigidity of government’s finance, and then to fiscal bankruptcy. An illusory idea of Premier Takaichi to make Japan strong will make the country fatigued.
１人当たりＧＤＰは、先進国機構ＯＥＣＤの中で24位に後退。日本はもう世界の強大国ではない。だが政府予算案は再び強国化に向けて財政を投入。高市首相の強国化幻想が日本を疲弊させる。
積極財政と財政破綻
26年度政府一般会計予算案は、高市首相の「強い経済・積極財政」の下で１２２兆３０９２円となり、昨年度当初から６・２％増の過去最大規模となった。
財政拡張路線は、金利復活での金利上昇と円安の環境下、歳出面は利払い費等への国債費31兆２７５８億円の計上、歳入面では新規国債発行額が29兆９９０２億円に上った。
既に１０００兆円を超える国債発行残高があり、積極財政は、国家財政の破綻へ繋がっていく。
戦争反対の声を大に
25年度の軍事費（防衛省予算と関連費）は総額約11兆円となり、政府は軍事費のＧＤＰ比２％（22年度基準）を２年前倒しで達成した。
26年度では、防衛省所管に前年度当初比３３４９億円多い９兆３５３億円を計上。９兆円を突破し、12年連続での過去最大金額となった。
特徴は、敵基地攻撃能力の早期整備と併せ、戦闘様相の大変化に対応する「多層的沿岸防衛体制」の構築だ。10種類の大量無人機で侵入を阻止とし、27年度中の構築に向け１００１億円を計上した。
自衛隊は「本当に戦える軍隊」へ急変貌中で、結果、為政者が戦争へ踏み込む敷居を低くしている。私たちは「戦争反対」の声を強く大きくしなければならない。
先端技術へ財政投入
高市政権は「危機管理・成長投資」を掲げ、ＡＩや造船など17分野を重点投資対象と決定。とくにＡＩや半導体には、25年度補正６・４兆円に続き、１・９兆円を計上した。
半導体メーカーのラピダスへは、今年度の１千億円出資に続き、26年度では１５００億円を追加。26～27年度には９３００億円の研究開発支援も実施する。
過去、国が復活へ関与した半導体事業が全て失敗した事を忘れてはならない。
生活の抜本的改善！
高市首相の年頭所感は「日本列島を強く豊かに」というもの。しかし、軍事能力や先端技術へ財政投入しても、「生活の抜本的改善」のスローガンはどこにもない。あるのは維新や国民民主を繋ぎ留める部分的改善のみ。
一方、金利上昇下での国債増加は、既存の国債残高を含め借換債での金利負担を大きく増加させ、財政硬直化と財政破綻へと導く。高市首相の強国化幻想が日本を疲弊させる。
英訳版↓
No. 1434 Draft Budget for Fiscal 2026
Japan’s rank in terms of GDP per capita has fallen down to the 24th place of all the countries of OECD, an organization composed of industrially advanced nations. She is no longer a big, powerful country in the world. But the current government is intended to compile a financial plan so that the nation could become robust again. An illusory idea of Prime Minister Takaichi to make the nation dominant will make it fatigued.
PRIME MINISTER’S LIES OVER DOMINANT STATUS OF LJAPAN
Bold financing versus financial bankruptcy
A draft budget of the general account for the fiscal 2026 of the Takaichi government accounts for in total 122 trillion and 309.2 billion yen in the concept of ‘strong economy and bold financing’, the biggest scale with an increase by 6.2% of the figure as of the initial period of last year.
Its financial expansion policy shows, in terms of expenditure, an allocation of 31 trillion and 275.8 billion yen to make interest payment of government bonds, and, in terms of revenue, a planned issuance of the bonds counting 29 trillion and 990.2 billion yen. This kind of budget is compiled in the face of the interest rate surge following the end of zero interest rate and a cheap yen environment.
The outstanding balance of government bonds amounts over 1,000 trillion yen. The expansionary finance policy eventually leads to bankruptcy of the country’s finance.
Let’s voice loudly No! War
The military budget (spending by the Ministry of Defense and releted expenditure) for the fiscal 2025 accounts for in total, approximately, 11 trillion yen: this means the government has attained its goal to spend 2% of the GDP (based on the figure of the fiscal 2022) earlier by two years.
In the draft budget of next fiscal, 9 trillion and 35.3 billion yen in total is appropriated for outlay by the Ministry of Defense, which is a surge by 334.9 billion yen from the figure as of the initial period of the previous fiscal. The entire sum exceeds 9 trillion yen, the biggest in the history, recording the greater figure consecutively for 12 years.
The military expenditure is characterized by ‘multi-layered coastal defense capabilities’, which respond acutely to massive changes in combat phases as well as an earlier arrangement of capabilities to attack bases of adversaries. An amount of 100.1 billion yen is appropriated to deploy a massive number of ten types of drones in order to deter aggression and build up a defense system by the end of the fiscal 2027.
The Self Defense Forces (SDF) is being converted to be ‘a real combat troop’, and, consequently, the ruling elite of the country gain a lower threshold to go to a war. We have to raise loud voices of No! Wars.
Investment in cutting edge technologies
The Takaichi government has decided to invest in the crucial 17 fields, including AI and shipbuilding, stressing ‘crisis management and investments for economic growth’. In the domains of AI and semiconductor, in particular, it has allocated 1.9 trillion yen, following the increase in the fiscal 2025 supplementary budget of 6.4 trillion yen.
As for Rapidus Corporation, a semiconductor manufacturer, the government has invested a sum of 100 billion yen in the fiscal 2025 and then in the fiscal 2026 it adds another 150 billion yen to assist the company. The administration will implement a financial support policy on its R&D with an amount of 930 billion yen in the fiscals 2026-2027.
We must not forget the fact that all the past government’s efforts to invigorate semiconductor industries had ended in vain.
People’s life must be improved
Premier Takaichi made a new year statement, in which she emphasized to ‘strengthen and enrich the Japanese archipelago’. She is enthusiastic in investing in the high technology fields as well as in boosting military capabilities, but no policy is provided to ‘improve people’s livelihood substantially.’ She has just proposed a limited level of perfections in the lives of people to hold partners under her control, the Ishin, and the Kokumin=the Democratic Party for the People.
Meanwhile, an increase in the government bonds issuance under the environment of surging interest rate represents an extremely big burden to pay for interests in terms of refinancing bonds, including the balance of existing bonds. That will lead to rigidity of government’s finance, and then to fiscal bankruptcy. An illusory idea of Premier Takaichi to make Japan strong will make the country fatigued.
January 14, 2026