Government to submit supplementary budget bill to National Assembly next Thursday
- 5 years ago
The government will submit a supplementary budget proposal to the National Assembly next Thursday.
It will be used to tackle issues related to people's safety,... and protect against economic risks.
Kim Min-ji reports.
Preparations for the third supplementary budget of the Moon Jae-in government are well underway.
At a meeting between the government and the ruling Democratic Party on Thursday,... the two sides said the focus of the budget will be dealing with matters related to people's safety as well as taking preemptive measures against economic uncertainties.
"Timing is key for the impact of the extra budget. When it's submitted to parliament, local governments will need to draw up follow-up measures. The government will submit the bill on April 25th. The government will also set up a task force for the swift deliberation of the budget."
For starters, the government plans to increase infrastructure that can measure and monitor fine dust levels as well as come up with ways to reduce emissions.
The plans also include providing air purifiers in facilities used by the general public,... and masks for the underprivileged who work outdoors.
The budget will be used to provide support for those affected by the recent forest fires that broke out in Gangwon-do Province.
That includes measures to restore forests,... as well as strengthen equipment and manpower to fight fires,... and provide support for the victims in the region.
A portion will also be set aside to provide assistance to the southeastern city of Pohang, which was hit by a 5-point-4 magnitude earthquake in 2017.
A recent investigation said that the quake was a man-made disaster,... that could have been triggered by an experimental geothermal power plant.
The government said it will step up on-site monitoring and management of geothermal power plants,... as well as provide policy funds for small businesses and the self-employed in the region.
Some of the budget will also be used to tackle downside economic risks,... especially with gloomy outlooks for the global economy,... as well as the slump in Korea's exports and investments.
Funding support will be provided for small companies,... while the government will also devise customized measures for exporters.
The two sides said the country's tax revenue will be considered when drawing up the extra budget.
The figure is not expected to exceed 6-point-2 billion U.S. dollars.
The ruling party called for cooperation from the opposition bloc,... saying they should put their political interests aside as the extra budget is for the people.
"Opposition support is a must. A number of opposition parties have been demanding the drawing up of one extra budget for natural disasters and another separate one for other purposes -- but this is just seen as a political tactic. The budget is for the people's safety and to boost their livelihoods."
The government is aiming to get the bill passed in May.
But deliberations are expected to be tough.
It will be used to tackle issues related to people's safety,... and protect against economic risks.
Kim Min-ji reports.
Preparations for the third supplementary budget of the Moon Jae-in government are well underway.
At a meeting between the government and the ruling Democratic Party on Thursday,... the two sides said the focus of the budget will be dealing with matters related to people's safety as well as taking preemptive measures against economic uncertainties.
"Timing is key for the impact of the extra budget. When it's submitted to parliament, local governments will need to draw up follow-up measures. The government will submit the bill on April 25th. The government will also set up a task force for the swift deliberation of the budget."
For starters, the government plans to increase infrastructure that can measure and monitor fine dust levels as well as come up with ways to reduce emissions.
The plans also include providing air purifiers in facilities used by the general public,... and masks for the underprivileged who work outdoors.
The budget will be used to provide support for those affected by the recent forest fires that broke out in Gangwon-do Province.
That includes measures to restore forests,... as well as strengthen equipment and manpower to fight fires,... and provide support for the victims in the region.
A portion will also be set aside to provide assistance to the southeastern city of Pohang, which was hit by a 5-point-4 magnitude earthquake in 2017.
A recent investigation said that the quake was a man-made disaster,... that could have been triggered by an experimental geothermal power plant.
The government said it will step up on-site monitoring and management of geothermal power plants,... as well as provide policy funds for small businesses and the self-employed in the region.
Some of the budget will also be used to tackle downside economic risks,... especially with gloomy outlooks for the global economy,... as well as the slump in Korea's exports and investments.
Funding support will be provided for small companies,... while the government will also devise customized measures for exporters.
The two sides said the country's tax revenue will be considered when drawing up the extra budget.
The figure is not expected to exceed 6-point-2 billion U.S. dollars.
The ruling party called for cooperation from the opposition bloc,... saying they should put their political interests aside as the extra budget is for the people.
"Opposition support is a must. A number of opposition parties have been demanding the drawing up of one extra budget for natural disasters and another separate one for other purposes -- but this is just seen as a political tactic. The budget is for the people's safety and to boost their livelihoods."
The government is aiming to get the bill passed in May.
But deliberations are expected to be tough.