TOKYO (Reuters) -Japanese Prime Minister Sanae Takaichi late last week said her government will ditch the current annual fiscal target in favour of one that measures spending through several years, essentially watering down the country’s commitment to fiscal consolidation.

The remark from Takaichi, known as an advocate of big spending, signals a major shift from past administrations that used the annual target as a key tool to show Japan’s resolve to get its fiscal house in order in the long run.

Under a long-term fiscal blueprint set in June, the government said it will aim to deliver a primary budget surplus sometime through fiscal 2025 to 2026.

When asked about the target, Takaichi told parliament on Friday she would drop the idea of using the annual primary budget balance as Japan’s

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