[뉴스분석] The National Assembly said that it is a super supplementary administration, but will increase it closer to ‘4 trillion’… Hong Nam-ki “Inadequate”

‘It’s already super extra (additional budget)…’ It is expected that the additional budget for the 4th emergency disaster support payment will grow like a snowball. The supplementary bill submitted by the government previously amounted to 15 trillion won, but as of the 18th, it was found that the preliminary review of 7 out of 10 related standing committees increased by nearly 4 trillion won. The National Assembly’s Agriculture, Forestry, Livestock, Food, Ocean and Fisheries Committee, which decided to pay 1 million won per household for farmers, fishers, and foresters, netted 1,629.6 billion won.

However, Hong Nam-ki, deputy prime minister of the economy and the Minister of Strategy and Finance, attended the National Assembly’s Planning and Finance Committee on that day and said that it was “inappropriate” and foreshadowed a conflict between the party and the government. Among the customized Corona 19 damage support measures totaling 1.9 trillion won by the government at the State Council meeting earlier this month, the additional budget of 15 trillion won is the third largest in history in terms of expenditure. Last year, the third supplement for responding to Corona 19 was 2.3 trillion won, and at the time of the global financial crisis in 2009, the additional budget was 1.72 trillion won.

◆Perch pays 1 million won and Hong Nam-gi “No”

Deputy Prime Minister Hong opposes the provision of universal disaster subsidies for farmers and fishermen agreed by the National Assembly’s standing committee on that day, saying, “The government has provided support for areas requiring damage, such as flower farming and rural tourism jobs, and is reflected in this supplementary administration.”

Earlier, the government announced that out of the 15 trillion won of the supplementary bill, about 10 trillion won will be prepared as government bonds. Assuming that the increase of the standing committee is 4 trillion won, the amount of government bond issuance will increase from 9.900 trillion won to 13.900 trillion won. The government debt forecast at the end of this year, previously announced by the Ministry of Strategy and Finance, will increase from 96.9 trillion KRW to 96.9 trillion KRW. Accordingly, there is a strong possibility that the period of’the era of 1,000 trillion won in national debt’, which was originally expected to be next year, will be accelerated according to the amount of this additional increase.

The opposition party is opposed to further increasing the amount of government bonds reflected in the current supplementary administration. Choo Gyeong-ho, a member of the People’s Strength, a secretary of the Preliminary Committee, said, “I oppose the issuance of deficit government bonds of 10 trillion won without restructuring a single penny out of this year’s budget of 558 trillion won.”

On the other hand, the ruling party is in a position that an additional administration without blind spots should be made. Hong Ik-pyo, chairman of the Democratic Party’s Policy Committee, emphasized at the policy coordination meeting held on the 16th, “It is time for the opposition parties to cooperate bipartisanly so that it can contribute to the lives of the people.”

◆Healthtrainer support…Extended reduction of electricity bills for small businesses

According to the National Assembly, a total of 7 standing committees out of the 10 standing committees for which supplemental bills were submitted have completed the preliminary examination by this day. The Ministry of Agriculture, Food and Rural Affairs, Food, Maritime Affairs and Fisheries decided on a net increase of 1,629.6 billion won, reflecting the plan to pay 1 million won per household of farmers, fishers, and foresters. The Ministry of Culture, Sports and Tourism decided to increase labor costs and employment subsidies by increasing 245.9 billion won to gym trainers who suffered damage from the Corona 19 incident.

The Ministry of Health and Welfare voted for a net increase of 1.62 trillion won in the name of quarantine project expenses such as corona vaccine vaccination and medical personnel infection management allowance. The Ministry of Public Administration and Security added 100,000 people to the desired labor support project, increasing the total amount of the supplementary bill by KRW 3917 billion.

It is also expected that more than 500 billion won will increase in the Small and Medium Venture Business Committee of the Ministry of Trade, Industry and Energy. The Ministry of Commerce, Industry and Energy decided to extend the reduction of electricity bills for small business owners who have been banned or restricted from gathering due to the coronavirus from 3 months, which was the previous government proposal, to 6 months. Accordingly, the budget for the project has also increased to 4405 billion won, which is twice the previous 202.25 billion won. The budget for supporting small business owners also increased 3917 billion won. The Over-Defense and Rehabilitation Labor Committee reduced some project costs. The education committee handed over the government’s original draft to the preliminary committee as it was due to the failure of the ruling party agreement.

Meanwhile, the opposition parties will conduct a comprehensive policy inquiry by the National Assembly Special Committee on Budget and Settlement until the 19th. The plan is to pass the supplementary bill at the plenary session on the 24th after reviewing the budget review subcommittee of the preliminary committee from 22nd to 23rd. If the supplementary bill is processed according to the schedule agreed by both parties, the 4th disaster support fund is expected to be paid as early as the end of March.