Photo/Illutration The Aegis-equipped destroyer Maya fires an interceptor missile. (Provided by the Defense Ministry’s Maritime Staff Office)

Prime Minister Fumio Kishida has instructed Finance Minister Shunichi Suzuki and Defense Minister Yasukazu Hamada to find ways to boost Japan’s defense budget over the next five years to 43 trillion yen ($315 billion).

That would be roughly 56 percent more than the current program, which is already at its highest level ever recorded.

Hamada told reporters that Kishida told him the midterm defense program, which will run through fiscal 2027, needs to reach that figure to achieve a “radical strengthening of (Japan’s) defense ability.”

The cost of the current midterm defense program, which covers fiscal 2019 to 2023, only runs about 27.5 trillion yen. But the government saved about 2 trillion yen through streamlining and other various means, reducing the final price tag to about 25.5 trillion yen, making the new figure an even steeper increase.

Lawmakers from the ruling Liberal Democratic Party and its junior coalition partner, Komeito, agreed on Dec. 2 that the country needs to possess the capability to strike enemy bases preparing to attack Japan, which opens the door to the development of long-range missiles.

Observers speculate that has already been factored into the latest budget target, which would explain why the cost has ballooned so much.

But neither minister provided details of the contents of the prime minister’s spending goal.

They said that Kishida has instructed them to come up with “concrete measures” for revenues and expenditures “by the end of the year” so the country can fund the new defense spending programs.

Examples he gave included spending reforms, the use of reserves and non-tax revenues, and new taxation measures.

Suzuki said tax increases will be discussed with the ruling parties and should be decided on by year’s end.

Sources said the ruling parties’ Research Commission on the Tax System will start concrete discussions on the matter after the government and the ruling parties decide on guidelines for revenue sources as early as Dec. 8.

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