After a month of discussion, the ruling and opposition camps reached a working-level accord Wednesday to improve transparency in political spending by requiring political bodies to keep receipts for all expenditures exceeding ¥1.
The parties will jointly submit a bill to revise the Political Funds Control Law by early next week — a symbolic gesture in the divided Diet. This will pave the way for it to clear the full Diet before the extraordinary session ends Dec 15.
The bill, agreed on by a working team of six ruling and opposition parties, will oblige all political organizations closely linked to members of the Diet — rather than just the one, official fund-management body each lawmaker is entitled to have — to disclose receipts for any expenditures, except salaries, in excess of ¥1.