"National Debt to Increase by 20 Trillion Won...
Will Not Revive the Economy"
Song Eonseok, floor leader of the People Power Party, criticized the first supplementary budget proposal of the Lee Jaemyung administration on June 19, calling it "a flashy debut show by a populist government."
Speaking to reporters at the National Assembly that day, Song said, "Looking at the contents of the supplementary budget, national debt will increase by an additional 20 trillion won."
Song stated, "As soon as President Lee Jaemyung was elected, he opened the door to a special prosecutor republic, and now he has opened the door to a populist republic as well," adding, "With this kind of supplementary budget, all we will have is more national debt, and it will not revive the economy."
He argued, "We need to strengthen strategic investment in areas such as high-tech industries where our competitiveness is lagging," and added, "Investing more in such areas is a way to use the national budget productively and efficiently."
Regarding the possibility of linking the review of the supplementary budget proposal, which will be sent to the National Assembly, to renegotiations over the formation of the parliamentary leadership, Song said, "It seems a bit premature to say whether we will link them or not," but added, "In order to realize this supplementary budget quickly, I hope the Democratic Party will take a more forward-looking stance on the allocation of standing committee chairmanships, as our party has requested."
The People Power Party is currently demanding the chairmanships of the Legislation and Judiciary Committee and the Special Committee on Budget and Accounts, which are currently held by the Democratic Party, and is urging negotiations on the parliamentary leadership formation.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
