Sim Jae-cheol "Acknowledges the Need for Supplementary Budget... Should Be Limited to COVID-19"

[Image source=Yonhap News]

[Asia Economy Reporter Kim Hyemin] Shim Jae-cheol, floor leader of the United Future Party, said on the 28th that he "acknowledges the necessity" of the supplementary budget bill (supplementary budget) being promoted by the government and ruling party. However, he emphasized that "the supplementary budget should be limited to matters related to the novel coronavirus infection (COVID-19)."

Shim held a floor strategy meeting at the National Assembly that morning and said, "No unrelated budget items for the April general election should be included."

He said, "The economic situation is worsening due to COVID-19. Especially small and micro business owners are taking a direct hit," and stressed, "The government should meticulously prepare the supplementary budget limited to COVID-19 related matters." Shim added, "In particular, various measures such as tax reductions, payment deferrals, and financial support for small business owners should be introduced to support them. Our party has pledged to raise the application threshold for simplified taxation for small business owners from an annual sales of 48 million won to 100 million won in the previous year. We also propose exempting surtax for the first half of the year."

Shim said, "I hope that at today's meeting between President Moon Jae-in and the leaders of the ruling and opposition parties, various measures to end COVID-19 will be discussed frankly," and added, "I hope President Moon seriously considers adopting a new economic policy that completely changes the economy. Also, he must apologize to the people regarding the worsening COVID-19 situation."

He also reiterated the urgent need to implement a full entry ban on China. Shim said, "Do not sacrifice our people as COVID-19 victims for the political purpose of President Xi Jinping's visit to Korea," and raised his voice, "Daegu should be promptly designated as a special disaster area and truly exceptional measures must be taken." He continued, "Daegu's medical system is on the verge of collapse. Hospital beds, medical equipment, and medical staff have all reached their limits," and urged, "All national medical resources must be mobilized to protect Daegu's medical system."