People Power Party's Lee Jong-bae "4th Supplementary Budget is a Relief but 'Full National Bond Issuance' is Irresponsible"

[Image source=Yonhap News]

[Asia Economy Reporter Kim Hyemin] On the 6th, Lee Jong-bae, Policy Committee Chairman of the People Power Party, welcomed the ruling party, government, and Blue House's agreement to draft the 4th supplementary budget (supplementary budget) in the mid-7 trillion won range, saying, "It is welcome that they belatedly recognized the seriousness of the situation and announced the payment plan," but criticized, "Issuing all the funds through government bonds is an admission of irresponsibility."

Through his Facebook on the same day, the Policy Committee Chairman stated, "The government has realized the 4th supplementary budget by confirming the payment of 'emergency disaster relief funds centered on vulnerable groups,' which our party has been demanding."

He said, "It is regrettable that a faster decision was not made for small business owners, micro-entrepreneurs, and low-income groups already in distress, but it is welcome that the payment plan was announced belatedly."

The Policy Committee Chairman pointed out, "However, the plan to cover all payment resources through government bond issuance is no different from admitting irresponsibility in national fiscal management," and added, "There are many unused budgets due to the government's reckless budget formulation and many unnecessary budgets, but increasing debt without efforts to reorganize such budgets to secure resources is extremely irresponsible governance."

He said, "The government should prepare a budget operation plan with a responsible attitude to secure resources," and "Our party will thoroughly minimize fiscal waste and ensure the proper allocation of emergency disaster relief funds through microscopic scrutiny as soon as the specific details of the 4th supplementary budget are submitted."

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