The Democratic Party and the government have agreed to organize the second supplementary budget to around 33 trillion won for recovery from COVID-19 damage.
The party government held a meeting with the party government on the second supplementary budget bill at the National Assembly in the morning and concluded as follows.
This is the largest supplementary budget in history based on the increase in appropriation, and if the budget already confirmed by the National Assembly, that is, the fixed budget of 3 trillion won, is added, the total size is expected to be about 36 trillion won.
Looking at the detailed items, 15 to 16 trillion won for the three types of COVID-19 damage support package, 4 to 5 trillion won for vaccine quarantine reinforcement, 2 to 3 trillion won for employment and public safety support, and regional gift vouchers to revitalize the local economy 12~13 trillion won will be allocated to reinforcing local finances.
In addition, KRW 1 trillion or more of the credit card cashback consumption subsidy, which the high-income class can benefit from, is reflected in the supplementary budget.
Instead of issuing separate government bonds, 2 trillion won of excess tax revenue will be used to repay government bonds.
It was agreed that the scope of the 5th disaster support fund, which had a disagreement with the party, was for the bottom 80% of income.
Instead, in order to support the low-income class more deeply, we decided to pay an additional amount of money to about 3 million people, including the lower-income earners and the lower-income earners.
Yun Ho-jung, floor leader of the Democratic Party, also said, "The key is an inclusive recovery strategy that stimulates domestic demand through consumption and revitalizes the economy for people's livelihoods." I will support you,” he said.
In addition, he said, "It will include a subsidy for damage to the self-employed and small business owners, a national subsidy for COVID-19 to revitalize the livelihood economy, and a subsidy for win-win consumption that induces additional consumption. ", he emphasized.
Park Wan-joo, chairman of the Democratic Party's policy committee, also met with reporters after the party's government consultation and explained, "The supplementary budget plan is to be prepared in four broad frameworks: COVID-19 damage support, quarantine vaccines, employment and livelihood safety, and revitalization of the local economy." We have decided to use it to raise financial resources and use some at the level of KRW 2 trillion in repayment of government bonds,” he added.
Deputy Prime Minister Hong Nam-ki said, "We have focused on supporting 164,000 jobs and supporting the vulnerable to close the gap." He said that he plans to submit an additional budget bill to the National Assembly within this time.
The party government plans to process the supplementary budget bill at the extraordinary National Assembly next month.
(Photo = Yonhap News)