TOKYO: Japan's Cabinet on Saturday approved a nearly 80 trillion yen (US$687.9 billion; euro579.9 billion) draft budget for fiscal 2006 that would slash spending across the board to reflect government efforts at fiscal reform.
The plan, which is 2.5 trillion yen (US$21.5 billion; euro18.1 billion), or 3 percent, smaller than the current fiscal year's main budget, would fall below 80 trillion yen mark for the first time in eight years, reflecting government efforts to trim its spending, officials said.
