Japan's main ruling Liberal Democratic Party, its coalition partner Komeito, and the opposition Democratic Party for the People have agreed on a draft revision of a new economic stimulus package.

The government aims to compile the package by the end of this week.

The DPFP, at a meeting of executives on Wednesday morning, endorsed in principle the draft revision presented by the ruling coalition.

Policy chiefs from the three parties held their fifth round of policy discussions later in the day.

The DPFP has been pushing to raise the minimum annual income subject to taxation.

The current threshold stands at 1.03 million yen, or about 6,600 dollars.

The draft revision states clearly that the threshold will be discussed in talks on tax system reform, and then raised.

It also spells out that gasoline tax cuts will be considered as part of a review of automobile-related taxes.

The three policy chiefs exchanged documents of agreement, and confirmed efforts to pass the supplementary budget for the current fiscal year as soon as possible to swiftly implement the economic package.

The issue of the minimum annual income threshold will now be considered by the three parties' tax panel chiefs.

The LDP and Komeito lost their combined majority in the Lower House of the Diet in last month's general election.