ding spree aimed at “saving people’s lives”.
(Japan's Prime Minister Yukio Hatoyama attends a press conference on financial year 2010 budget at Hatoyama's official residence on December 25, 2009 in Tokyo, Japan. Hatoyama's cabinet approved record high 92.29 trillion Japanese Yen ($1 trillion USD) draft budget for the nest fiscal year.)
The unprecedented budget, which supposedly shifts Japan’s fiscal spending focus “from concrete to lives”, comes amid rising concern about the solidity of sovereign debt in the world’s second-largest economy.
The new budget will require additional debt issuance of Y44.3 trillion — within the Government’s expected band, but still at a level that will raise Japan’s debt-to-GDP ratio to nearly 195 per cent.
Of foremost concern, analysts for Nomura said, is that Japanese tax revenues are expected to fall to Y37.40 trillion this year, the lowest that they have been since 1984. It was, analysts said, a watershed moment — the first time that new debt issuance has exceeded tax revenues since the Second World War.
Mr Hatoyama said: “We were just able to stay at a level in which we can maintain fiscal discipline.”
Mr Hatoyama swept to power in August with grand promises that the era of wasteful public spending would end. Japan’s unnecessary and notoriously expensive “roads to nowhere” public works projects would be curtailed and the money diverted to supporting beleaguered households.
Four months on from that victory and Mr Hatoyama has spent more than any of his predecessors and has yet to make any serious impact on the wider effort of repairing Japan’s shattered economy. Unemployment is falling from its March highs, but not at anything like the pace in other Asian economies. Mr Hatoyama has also been hurt personally by the arrest of a former aide this week amid a money scandal that bore all the hallmarks of the politics of “old Japan” — precisely the sort of venality that Mr Hatoyama and his Democratic Party of Japan (DPJ) were elected to crush. Prosecutors in Tokyo accused Keiji Katsuba, 59, of falsifying funding reports beginning in 2000 and listing dead people as donors.
Political analysts said that the episode would not be crippling to Mr Hatoyama, who has denied knowledge of the matter and does not face charges, but it adds to pressures that already include a weakened domestic economy and strained relations with the United States.
Seiji Adachi, senior economist with Deutsche Bank, said: “The scandal in itself is not so serious, but it tarnishes his reputation further and diminishes his power to be an effective prime minister.”
The Government hopes that the budget’s inclusion of steps such as allowances for families raising children and free public high school education will boost its popularity before an Upper House election next summer. That election is critical for Mr Hatoyama and the DPJ. Only by winning an outright majority in the Upper House can the new Prime Minister be free of the various coalitions that have hampered his first months in power.
“I believe that we have delivered all we can without compromising fiscal discipline,” Mr Hatoyama said. “Our country’s economic and employment conditions are very severe. The most important thing for us is to protect the lives of the Japanese citizens.”
The budget plan will contain Y53.4 trillion in policy spending; 51 per cent of that will go to social security programmes. This is the first time that social security has received more than half of policy spending, reflecting the new Government’s focus on jump-starting consumption rather than the big public works projects carried out by former administrations.
Tax revenues are expected to make up less than half the Government’s 2010-11 budget, falling behind new debt borrowing for the first time since the Second World War after a deep recession that devastated company profits.
There were mid-winter festivals in ancient Babylon and Egypt, and Germanic fertility festivals also took place at this time. The birth of the ancient sun-god Attis in Phrygia was celebrated on December 25th, as was the birth of the Persian sun-god, Mithras. The Romans celebrated Saturnalia, a festival dedicated to Saturn, the god of peace and plenty, that ran from the 17th to 24th of December. Public gathering places were decorated with flowers, gifts and candles were exchanged and the population, slaves and masters alike, celebrated the occasion with great enthusiasm.
In Scandinavia, a period of festivities known as Yule contributed another impetus to celebration, as opposed to spirituality. As Winter ended the growing season, the opportunity of enjoying the Summer's bounty encouraged much feasting and merriment.
The Celtic culture of the British Isles revered all green plants, but particularly mistletoe and holly. These were important symbols of fertility and were used for decorating their homes and altars.
New Christmas customs appeared in the Middle Ages. The most prominent contribution was the carol, which by the 14th century had become associated with the religious observance of the birth of Christ.
In Italy, a tradition developed for re-enacting the birth of Christ and the construction of scenes of the nativity. This is said to have been introduced by Saint Francis as part of his efforts to bring spiritual knowledge to the laity.
Saints Days have also contributed to our Christmas celebrations. A prominent figure in today's Christmas is Saint Nicholas who for centuries has been honored on December 6th. He was one of the forerunners of Santa Claus.
Another popular ritual was the burning of the Yule Log, which is strongly embedded in the pagan worship of vegetation and fire, as well as being associated with magical and spiritual powers.
Celebrating Christmas has been controversial since its inception. Since numerous festivities found their roots in pagan practices, they were greatly frowned upon by conservatives within the Church. The feasting, gift-giving and frequent excesses presented a drastic contrast with the simplicity of the Nativity, and many people throughout the centuries and into the present, condemn such practices as being contrary to the true spirit of Christmas.
The earliest English reference to December 25th as Christmas Day did not come until 1043.
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