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Abe shoots down proposal for spending cap

TOKYO -- Prime Minister Shinzo Abe has rejected a proposal to impose an effective ceiling on government spending as part of a new plan to remedy Japan's debt-laden public finances.     

Prime Minister Shinzo Abe, right, speaks with Economic Minister Akira Amari.

     On June 10, Abe and Akira Amari, economic and fiscal policy minister, discussed whether the administration's blueprint for balancing the budget by fiscal 2020 should show the size of government spending in fiscal 2018 as a midterm target.

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