Ruling and opposition parties agree on the need for timely budget approval
Joo Ho-young: "Difficult to process within the legal deadline"
Ruling party: "Impossible to process Lee Sang-min dismissal proposal"
Opposition party: "Dismissal proposal and budget are separate issues"
[Asia Economy reporters Naju-seok and Kwon Hyun-ji] With the legal deadline of the 2nd making the passage of the budget virtually impossible, the ruling and opposition parties are blaming each other for the responsibility. Both parties have expressed the principle that the budget must be passed on time during the economic crisis, but since both sides are sticking to their existing positions, the possibility of compromise seems remote.
On the 1st, Joo Ho-young, floor leader of the People Power Party, explained at the People Power Party emergency meeting held at the National Assembly, "Last night at midnight, the Budget and Accounts Special Committee's budget review was suspended, and the budget was submitted to the plenary session," adding, "The budget review has not progressed much compared to previous years." Floor leader Joo expressed concern, saying, "If the budget is not approved on time and does not go to where it is needed, it is uncertain where in the economy problems may arise."
Park Hong-geun, floor leader of the Democratic Party, said at the Democratic Party policy coordination meeting, "The budget is a weapon to overcome the livelihood and economic crisis," and added, "The Democratic Party is ready to review and negotiate the budget overnight. I fully agree with People Power Party floor leader Joo Ho-young's remark that if the budget is not passed during these difficult times, a greater crisis may come. We will keep the possibility of dialogue open until the very last moment for the swift passage of the budget."
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Both sides recognize the risks that will arise if the budget is not passed during the economic crisis. However, they acknowledge that it is difficult to pass the budget within the legal deadline approaching tomorrow. Floor leader Joo mentioned the issue of the no-confidence motion against Minister of the Interior and Safety Lee Sang-min, saying, "They are arguing that there is no reason or justification to convene the plenary session today or tomorrow because there are no agenda items to be processed." Although the 2nd is the legal deadline for the budget, this indirectly reveals that they believe it will be difficult for the budget to pass as there are no agenda items to be raised. Furthermore, he said, "Passing within the legal deadline is very difficult, and even if we try to pass it within the regular session, sufficient discussion and compromise between the two parties must continue from now on." This means that passing the budget by the legal deadline is out of the question, and even by the end of the regular session on the 9th, it will not be easy.
Both ruling and opposition parties agree on the need for swift budget passage, but neither side is backing down from their existing positions. The ruling party warned of a catastrophe if the no-confidence motion against Minister Lee is processed. The opposition maintained that the budget passage and the no-confidence motion are separate issues.
Floor leader Joo explained his opposition to the no-confidence motion against Minister Lee, saying, "The Democratic Party has submitted the no-confidence motion against Minister Lee and is insisting on unilaterally pushing it through," and added, "I earnestly ask the Democratic Party to put the no-confidence motion aside with a concern for the country and to come together to process next year's budget."
Floor leader Park pointed out, "(The Itaewon tragedy) state audit, the no-confidence motion against Minister Lee, and the budget passage are all separate matters." The Democratic Party is sticking to its position of opposing tax cuts for the wealthy, blocking illegal budgets, and increasing budgets for livelihood. Kim Seong-hwan, chairman of the Democratic Party Policy Committee, reaffirmed the party’s position in a public statement at the policy coordination meeting, saying, "The Democratic Party will block ultra-rich tax cuts that benefit super-rich individuals, reduce budgets governed by enforcement ordinances and excessive relocation budgets of the Presidential Office, and maximize budgets that save livelihoods such as abolishing the reduction of basic pension couples, local currency, expanding rental housing supply, and addressing the climate crisis."
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