Japanese PM Ishiba approves record US$732b budget amid growing defence, social spending

Japanese Prime Minister Shigeru Ishiba has approved a record budget of 115.5 trillion yen or US$732 billion for the next fiscal year starting in April. This is on the back of growing social security and defence spending. About US$55 billion will be set aside for defence, a 9.4 per cent hike from this year. CNA's Michiyo Ishida explains.