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LDP to receive 3.5% more in state subsidies after election victory

JIJI

The Liberal Democratic Party will receive ¥15.062 billion in state subsidies this year, up 3.5 percent from the previous estimate, after the ruling party’s landslide victory in Sunday’s House of Councilors election, a Jiji Press estimate has revealed.

The LDP came out of the election with 31 more seats in the upper chamber of the Diet.

In contrast, government subsidies to the Democratic Party of Japan are expected to fall 8.9 percent to ¥7.773 billion after the main opposition party suffered a crushing defeat, winning a record low 17 seats.

Annual government subsidies to major political parties total ¥31.8 billion. They are divided up based on the number of lawmakers belonging to each party and the ratio of votes garnered in general elections.

The subsidies are paid out in four installments. The two remaining installments for the year will be given out in October and December. The amounts will be recalculated based on the latest election results.

Midori no Kaze (Green Wind) will not be eligible for the two outstanding installments as it no longer meets the requirements of a political party, after losing all four of its seats in the Upper House.

The Japanese Communist Party, which opposes the scheme, did not file for subsidies.

Nippon Ishin no Kai (Japan Restoration Party) is estimated to receive ¥2.955 billion, up 8.8 percent, New Komeito ¥2.574 billion, up 0.6 percent, and Your Party ¥2.027 billion, up 13.3 percent.

Subsidies to Seikatsu no To (People’s Life Party) are estimated to fall by 3.5 percent to ¥787 million, by 8.6 percent to ¥494 million for the Social Democratic Party and by 7.4 percent to ¥115 million for the New Renaissance Party.