Ruling and Opposition 2+2 Consultative Talks... Opposition: "No Consultation If Asked to Give Even Our Gallbladder"

Coordinators of Both Parties' Budget Committees Emphasize Differences
Passage in Plenary Session on 8th-9th Is Key

[Image source=Yonhap News]

[Asia Economy Reporter Park Jun-yi] The ruling and opposition parties resumed negotiations by holding a '2+2 consultative body' to discuss next year's budget bill. On this day as well, both sides stood firmly on contentious issues.

At the meeting of the consultative body on the 4th, Seong Il-jong, Policy Committee Chairman of the People Power Party, Kim Seong-hwan, Policy Committee Chairman, Park Jeong of the Democratic Party, the opposition secretary of the National Assembly Budget and Accounts Committee, and Lee Cheol-gyu of the People Power Party, the ruling party secretary, attended.

On this day, Chairman Seong said, "There is hardly any part to cut, so I think the Budget Committee members are well aware that the budget is much tighter than the previous ones," adding, "Especially for the vulnerable and the future, and for the livelihood, I ask the Democratic Party for swift and active cooperation regarding next year's budget prepared for these purposes."

In response, Chairman Kim said, "The Speaker of the National Assembly suggested processing the budget bill by the 8th or 9th, and in that regard, it seems that the ruling and opposition parties share the same intention," but pointed out, "However, there are still contentious budget issues to be resolved, such as excessive budgets related to the relocation of the Blue House, budgets related to presidential executive orders and governing institutions, and various power-related budgets."

He continued, "Among the budget-related bills, there are tax reduction bills for the ultra-rich in Korea, such as lowering the highest corporate tax rate, raising the stock tax exemption threshold to 10 billion won, and abolishing the progressive comprehensive real estate tax rate for owners of three or more houses, which are not helpful for the livelihood of the people."

He added, "We will thoroughly block those parts and instead use the tax revenue generated there to carefully secure missing livelihood budgets such as basic old-age pension couple reductions, elderly and youth jobs, local currency, rental housing, and the Grain Management Act during this opportunity."

The budget committee secretaries of both parties emphasized that both sides are still standing firmly opposed. Representative Lee expressed regret, saying, "So far, the ruling and opposition parties have agreed on cuts amounting to 1.18 trillion won in the government budget bill," but added, "However, there have been claims for full or significant cuts to essential government functions such as youth cost-price housing, full cuts to sales projects and station area housing sales projects, and operating expenses for the prosecution, police, and Board of Audit and Inspection, which prevented progress."

Representative Park said, "If discussions are held on the few contentious issues, there is a sufficient possibility that the 2023 budget bill will pass in the plenary session on the 8th or 9th," but criticized People Power Party floor leader Joo Ho-young's remark that "If an impeachment motion is introduced, it will be difficult to reach a budget compromise," stating, "The government and ruling party have never refused budget negotiations for political reasons."

He urged the People Power Party, saying, "I earnestly ask the People Power Party not to let the 2023 budget bill flounder in the swamp of political strife," emphasizing, "If asked for the liver, it can be given. But if asked for the gallbladder as well, there can be no negotiation."

This content was produced with the assistance of AI translation services.