Joo Ho-young, ruling party floor leader, likely to hold afternoon press conference to clarify position
[Asia Economy Reporter Lee Ji-eun] The Special Committee on Budget and Accounts, which is reviewing next year's budget proposal, will conclude on the 30th without properly completing the reduction and increase reviews of major budgets. As the ruling and opposition parties clash over budget increases and cuts, the convening of the Budget Subcommittee scheduled for the afternoon remains uncertain. The opposition has requested an extension of the budget review period, and Joo Ho-young, floor leader of the People Power Party, is expected to hold a press conference in the afternoon to announce his position.
Woo Won-sik, chairman of the Budget Committee, told reporters at the National Assembly on the day, "(The subcommittee) may be able to convene," adding, "We will discuss today to reach agreements where possible, but if it is absolutely impossible, it will inevitably have to go to the floor leaders." Park Jung, opposition party secretary from the Democratic Party, also said, "Today is the deadline for the (subcommittee), so everything is open. There is a possibility it will convene."
On the other hand, Lee Cheol-gyu, ruling party secretary from the People Power Party, took a hardline stance, saying, "Regarding the agenda items that were unilaterally processed by the opposition alone in the Land, Infrastructure and Transport Committee and the Political Affairs Committee, which effectively violated the law, discussions cannot proceed unless the preconditions are resolved."
The ruling and opposition parties are clashing over the youth cost-price housing budget, known as the 'Yoon Seok-yeol budget,' and the public rental housing budget, known as the 'Lee Jae-myung budget.' Lee said, "The government's policy to sell housing to youth at cost price is a very important national policy," and raised his voice, saying, "(The opposition's) retaliatory and unilateral budget cuts are not a call for negotiation."
If the ruling and opposition parties fail to reach an agreement on the budget proposal by the 30th, the government’s proposal will be automatically submitted to the plenary session on the 2nd of next month. The opposition has stated that if the government proposal is automatically submitted, they may reject it and submit a revised proposal prepared solely by themselves for processing.
However, since the opposition has requested an extension of the budget review period from the ruling party and the Speaker of the National Assembly, the possibility of a last-minute agreement cannot be ruled out. Park Hong-geun, floor leader of the Democratic Party, told reporters the day before, "We have requested the Speaker and Floor Leader Joo to consider extending the budget review period." According to the National Assembly Act, the budget review period can be extended with the agreement of the floor leaders of both parties.
Chairman Woo also said, "(If the deadline is extended,) it requires agreement between the Speaker and the floor leaders of both parties," adding, "If that happens, we can negotiate more comfortably, and if not, we will have to work until late tonight."
If this happens, even if the legal deadline (December 2) is exceeded, it may be possible to process the budget proposal by the closing day of the regular session (December 9). Lee Yong-ho, a ruling party Budget Committee member from the People Power Party, said on KBS Radio's 'Choi Kyung-young's Strong Current Affairs' on the day, "I believe the ruling and opposition leadership can formally reach an agreement at the subcommittee stage at the last moment. It should be possible by the 9th."
Meanwhile, Floor Leader Joo is scheduled to hold a press briefing in the afternoon to announce his position on the budget review schedule and other matters.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
