Prime Minister Yoshihiko Noda held the first meeting of the Government and Ruling Parties Council on the Formulation of the Budget at the Prime Minister's Office.

The Council has been established for the Government and the ruling parties to work together in formulating the FY2013 budget, under the Prime Minister as its chair, and will discuss the prioritization of budget allocation, such as eliminating overlapping, for the specially-focused requests and focused requests on measures related to the Strategy for Rebirth of Japan, including the measures related to the fields of green, life, agriculture, forestry and fisheries.

At this meeting, a decision was made to establish a working-level meeting and discussion took place on the procedures for discussion.
The Prime Minister said in his opening address,

"As for the FY2013 budget, it is necessary to observe the overall expenditure limit of 71 trillion yen specified in the Medium-term Fiscal Framework, while realizing review of the entire expenditure and focused allocation based on the Strategy for Rebirth of Japan, in order to prioritize the budget allocation to the fields that contribute in the revitalization and growth of the Japanese economy.
Under such idea, I convened this first meeting of the Government and Ruling Parties Council on the Formulation of the Budget today.
In today's meeting, I would like to establish a working-level meeting, and to ask for your effort in selecting items to which the budget allocation should be prioritized and items for which expenditure should be reduced, toward the review of expenditure including the specially-focused requests and focused requests.
I expect that the Government and the ruling parties will work together to formulate a prioritized and strategic budget, and I would like to ask again for your cooperation."