Japan's budget

JAPAN'S key Lower House budget committee has approved the state budget for 1993/94, paving the way for the government and ruling Liberal Democratic Party to draft a new package to stimulate the economy.

The committee approved the budget for the new tax year, which is intended as a powerful pump-primer for the stagnant economy.

Passage of the budget by the full Lower House is now a formality. It then goes to the opposition-controlled Upper House, which can delay but not block the budget. It is set to become law in April.