A working team of the ruling Liberal Democratic Party, the Social Democratic Party and New Party Sakigake agreed Wednesday on draft bills aimed to help recover public trust in politics.
One new bill and some revisions of the current laws are expected to be submitted to the Diet on Monday after obtaining the approval of each party.
The bills would make Diet members' stock transactions more transparent and would ban members who were elected through the proportional representation system from changing parties. One of the bills would require lawmakers to receive political funds that exceed 10,000 yen only through bank accounts in order to improve transparency. Another bill would ban semigovernmental corporations from making political donations if 50 percent or more of their capital is from state subsidies.
The three parties, however, failed to agree on a bill that would ban politicians from receiving money by peddling their influence, prompting the SDP to break away from the tripartite ruling alliance.