Outside members of a key Japanese government advisory panel said on Thursday Japan should "actively use" more of the large surplus in its Foreign Exchange Special Account to fund government spending, and that existing buffers are sufficient to withstand sizable yen swings. The proposal, made at an Economic and Fiscal Policy Committee meeting, comes as policymakers debate how to finance tax cuts and spending without further enlarging already high government debt. Members urged authorities to "acc

Outside members of a key Japanese government advisory panel said on Thursday Japan should "actively use" more of the large surplus in its Foreign Exchange Special Account to fund government spending, and that existing buffers are sufficient to withstand sizable yen swings. The proposal, made at an Economic and Fiscal Policy Committee meeting, comes as policymakers debate how to finance tax cuts and spending without further enlarging already high government debt. Members urged authorities to "accurately assess and implement" non-tax revenues and unused government funds. The proposal will feed into the budget draft for the fiscal year starting April 1.