The Liberal Democratic Party and New Komeito agreed Monday on certain terms in the distribution of coupons to boost slumping personal consumption, but remained apart on the total amount and range of recipients.
The two parties will end working-level discussions on the coupon scheme and are expected to reach conclusions at a meeting between their secretary generals later in the day.
The LDP wants to keep the cost of the scheme to less than 500 billion yen, while New Komeito demands at least 800 billion yen be spent, according to officials from both parties.
During the fourth round of meetings, the two parties agreed on the following terms:
1) The validity of the coupons will be six months;
2) The coupons cannot be converted into cash;
3) Municipal governments will distribute the coupons, which can be used only in that municipality;
4) Each coupon will be worth 1,000 yen;
5) The central government will bear the cost of printing and distribution.
Regarding the range of recipients, both sides agreed to target families with children aged 15 years and younger.
In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.