The Democratic Party of Japan may redeploy as much as ¥5 trillion in stimulus spending currently earmarked for "wasteful" programs, party lawmaker Hirohisa Fujii said.

"We should cut these projects considerably," Fujii, 77, regarded as a contender for finance minister, said in an interview Thursday in Tokyo. Scrapping plans for measures including a "manga" comic-book museum would free up funds to spend on child care, education and support for workers, he said.

The amount is the first specific estimate provided by the DPJ, which won power for the first time in the Aug. 30 election on a promise to help households as the country struggles to emerge from its worst postwar recession. Economists have questioned whether the plans to cut public-works spending and shrink the bureaucracy will be sufficient, saying bond sales may have to be boosted.

"The challenge for the DPJ is how to find the money to finance its promises," said Mitsumaru Kumagai, senior economist at Daiwa Institute of Research Ltd. in Tokyo. "The party needs to allocate a limited amount of money efficiently without providing an adverse impact on the bond market."

Yukio Hatoyama, the DPJ leader and prime minister in waiting, asked Fujii not to retire from politics before the election, sparking speculation he will take the finance portfolio. Fujii was one of 308 DPJ lawmakers who won seats in the 480-member Lower House. Hatoyama, 62, is scheduled to choose his Cabinet on Sept. 17.

Asked about local media reports he was being considered for the post, Fujii said: "Of course, I know about the talk. But it would be unseemly for me to comment about myself."

Fujii reiterated Hatoyama's intention to keep new bond sales in the next fiscal year within the ¥44.1 trillion allocated for the year ending next March. The DPJ needs to find ¥7.1 trillion to fund its election pledges in the year starting April 1, according to its campaign platform.

"We can do it," Fujii said in the interview in his office near the Diet building. "We need to follow that line, while monitoring various things, such as how much tax revenue we'll actually receive."

The Diet passed a ¥13.9 trillion supplementary budget in May to fund Prime Minister Taro Aso's stimulus plan. The election defeat of Aso's Liberal Democratic Party leaves money unspent from that budget available for reallocation by the incoming DPJ administration.

About half of that total was "wasteful," Fujii said. Some ¥4.3 trillion was funneled to government-related agencies without any specific purpose, and ¥2.9 trillion was set aside for construction projects, including the manga museum, he said. About ¥4 trillion to ¥5 trillion can be redirected from those areas, he added.

The new government could use the money in the current fiscal year, or next year to help fund the pledges to provide child care benefits and free high school tuition, Fujii said. Any cash left over could be used to trim government debt, he added. Japan's public borrowings, the developed world's largest, are approaching 200 percent of the size of the economy.

Fujii, who worked at the Finance Ministry for 21 years, said the DPJ should set targets for restoring fiscal health, such as reducing the ratio of debt to gross domestic product and balancing the budget — goals that were set by the LDP.

A fiscal overhaul "is something we'll have to do," and targets could be laid out as early as January, he said. Fujii added that the party is confident it will be able to pass the budget before the next fiscal year begins April 1.

Fujii was an LDP lawmaker from 1977 until he left the party in 1993 to participate in a coalition government of other groups. He served as finance minister in that administration, which lasted only 10 months.

While the DPJ wants to shift power to elected politicians from the bureaucracy, Fujii's background may help minimize clashes with the Finance Ministry should he take that post, analysts said.

"Fujii is well-balanced — he's likely to avoid being overly confrontational or overly conciliatory toward the bureaucrats," said Kumagai at Daiwa Research.

The DPJ respects the Bank of Japan's autonomy and evidence that the recession is over won't compel policymakers to raise the benchmark interest rate from 0.1 percent, Fujii said.

"I think the BOJ's independence is important," he said.