4. Fiscal 2014 budget

Next, I would like to speak about the fiscal 2014 budget.

This fiscal 2014 budget has been drawn up based on the provisional budget. In the absence of the governor, which lasted for some 50 days, the acting governor put together the provisional budget while consulting with the Assembly. If the metropolitan government’s operations become stalled, the impacts will immediately reverberate to all corners of Tokyo due to the complicated and interconnected nature of modern society. This would cause significant inconvenience to the residents of Tokyo. As the capital’s leader, I cannot do anything so irresponsible.

Although only limited time was available, I held candid discussions with the metropolitan officials, and was able to incorporate in the budget some of my campaign pledges. Of what I promised to voters during the gubernatorial election, the budget encompasses initiatives that can be quickly started and those for which preparation can be taken. These include expanding subsidies for creating daycare centers, enhancing emergency medical care, compiling new disaster-preparedness manuals for households, accelerating the construction of bicycle lanes in the lead-up to 2020, and launching a new fund to further increase the use of renewable energies. We will take further measures to cultivate these newly sown seeds into strong policies.

The budget totals 13.3 trillion yen. This size made me once again realize how broad an authority the TMG has, and how heavy are the responsibilities it bears. Compared to the central government, we are fiscally sound in our bond dependency rate and outstanding fund balance levels. However, heavy dependence on revenues from corporate taxes makes the TMG’s financial structure vulnerable to economic ups and downs. In the past, the TMG faced many critical challenges when tax revenues dropped during the recession. Maintaining fiscal integrity of the metropolitan government is the precondition for improving welfare for Tokyo citizens. I will definitely bear this in mind as I serve as governor.

Because the consumption tax rate will be raised in April, bills have been presented to this regular session of the Tokyo Metropolitan Assembly to revise ordinances, including those for water and sewer rates and wholesale market service charges. We will put further efforts into making our operations more efficient and convenient for our citizens. Your understanding of this matter would be highly appreciated.