Ruling party, gov't, top office discuss 2019 budget, pending bills
- 5 years ago
A high-level meeting between South Korea's ruling party, the government and the presidential office took place today about next year's budget as well as other pending bills.
They promised to work hand-in-hand to secure enough funding to achieve the government's policy goals.
Kim Min-ji reports.
South Korea's ruling Democratic Party, the government and the presidential office have vowed to stay in close communication... with the aim of securing the budget the administration needs to implement its policy initiatives.
The National Assembly kicked off its deliberations last week on the 2019 budget -- in which the government is asking for 470-point-5 trillion won,... or roughly 420 billion U.S. dollars,... up 9-point-7 percent on year -- the biggest hike in almost a decade.
The three sides agreed that the bigger budget is needed... in light of a slew of economic uncertainties -- and for the government to achieve its goal of becoming an inclusive nation in which everyone prospers together.
:There's a lot that needs to be done to become an inclusive nation,... but most importantly we must create lots of jobs -- which is one of the budget's core points. It will be important to work together so that we can secure enough funding in crucial areas."
Addressing criticism from the opposition bloc, which claims that the government is wasting taxpayer money by expanding the budget,... the Blue House said they are actually trying to return the benefits to the people,... rather than keeping taxpayers' money in the pockets of the government.
"We've drawn up next year's budget very carefully in a way that can create more jobs,... as well as help the vulnerable, small businesses and the elderly. We believe the people will be able to feel the effects of the government's economic policies next year."
The government also called for the swift passage of bills related to people's livelihoods... in order back the government's budget and policy goals.
On top of that, they agreed on the need for additional measures along the way... to address regions hit by corporate restructuring,... or reeling from other economic difficulties.
"We need to see whether there are ways to give more tax breaks for investment in regions hit by crisis. The tax code revision alone isn't enough. On top of that, we need measures that can alleviate uncertainties caused by some new measures, like the shortening of working hours."
The participants noted that *all this requires opposition support,... as the ruling party lacks a majority in parliament.
The ruling party says it is willing to accept reasonable demands from the opposition and work candidly through their differences.
Kim Min-ji, Arirang News.
They promised to work hand-in-hand to secure enough funding to achieve the government's policy goals.
Kim Min-ji reports.
South Korea's ruling Democratic Party, the government and the presidential office have vowed to stay in close communication... with the aim of securing the budget the administration needs to implement its policy initiatives.
The National Assembly kicked off its deliberations last week on the 2019 budget -- in which the government is asking for 470-point-5 trillion won,... or roughly 420 billion U.S. dollars,... up 9-point-7 percent on year -- the biggest hike in almost a decade.
The three sides agreed that the bigger budget is needed... in light of a slew of economic uncertainties -- and for the government to achieve its goal of becoming an inclusive nation in which everyone prospers together.
:There's a lot that needs to be done to become an inclusive nation,... but most importantly we must create lots of jobs -- which is one of the budget's core points. It will be important to work together so that we can secure enough funding in crucial areas."
Addressing criticism from the opposition bloc, which claims that the government is wasting taxpayer money by expanding the budget,... the Blue House said they are actually trying to return the benefits to the people,... rather than keeping taxpayers' money in the pockets of the government.
"We've drawn up next year's budget very carefully in a way that can create more jobs,... as well as help the vulnerable, small businesses and the elderly. We believe the people will be able to feel the effects of the government's economic policies next year."
The government also called for the swift passage of bills related to people's livelihoods... in order back the government's budget and policy goals.
On top of that, they agreed on the need for additional measures along the way... to address regions hit by corporate restructuring,... or reeling from other economic difficulties.
"We need to see whether there are ways to give more tax breaks for investment in regions hit by crisis. The tax code revision alone isn't enough. On top of that, we need measures that can alleviate uncertainties caused by some new measures, like the shortening of working hours."
The participants noted that *all this requires opposition support,... as the ruling party lacks a majority in parliament.
The ruling party says it is willing to accept reasonable demands from the opposition and work candidly through their differences.
Kim Min-ji, Arirang News.