Japan Lower House passes record US$793b budget

Tokyo

JAPAN'S powerful Lower House of Parliament on Friday passed a record US$793 billion budget, including fresh economy-boosting stimulus and more defence spending as Tokyo eyes an increasingly assertive China.

The government plans to spend 96.34 trillion yen (S$1.1 trillion) for the fiscal year to March 2016 under the budget which will now be sent to the Upper House for final approval. Pass…