From 2002 on, cap bond issuances at $247 billion a year. Targets: Public-works and social welfare spending, plus special grants to prefectures.
Slash funding by 20% or so to seven state-linked companies that focus on highway construction and business lending.
Remaining public-works spending will be tilted toward such major urban centers as Tokyo and Osaka instead of rural Japan.
Put in private hands big public universities, an array of municipal services, and of course, the sprawling postal savings system.