EXTRA BUDGET BILL UNDER REVIEW

[Anchor Lead]

The National Assembly is reviewing the government’s second extra budget for the year. The ruling party, the government and the opposition camp are all holding differing views on the scope of COVID-19 relief payments. Some members of the Democratic Party have even proposed to dismiss Finance Minister Hong Nam-ki, as he is opposing the ruling party’s push to pay the relief grants to all South Koreans.

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The government’s second extra budget proposal was submitted to the parliamentary special committee on budget and accounts. The opposition camp requested the government to draw up a new supplementary budget proposal in view of the worsening pandemic situation.

[Soundbite] Rep. Bae June-young(People Power Party) : "Encouraging consumption and stepping up anti-COVID-19 efforts simultaneously are like applying the accelerator and brakes together."

Finance Minister Hong Nam-ki rejected the demand, saying the situation is not bad enough to revise the extra budget bill. He also maintained his position that COVID-19 relief grants should be paid to those in the lower 80 percent income bracket, as originally proposed.

[Soundbite] Hong Nam-ki(Finance Minister) : "We submitted to parliament the 80-percent bracket proposal due to limited resources. The government will thoroughly execute the extra budget in accordance with the plan."

Prime Minister Kim Boo-kyum also lent support to Hong, saying those in the higher 20 percent will understand even if they are not given the relief payouts.

[Soundbite] Kim Boo-kyum(Prime Minister) : "There are many people opposing giving relief payouts even to those who didn't suffer financial losses or lowered income despite the pandemic."

The ruling party pressured Hong to agree to its push to universally pay relief grants to all South Koreans. It even brought up a proposal to dismiss the finance minister.

[Soundbite] Kim Yong-min(DP Supreme Council Member(TBS Radio)) : "Inside the party, some people are voicing the opinion that it might be necessary to recommend the dismissal of the finance minister."

Among observers in and outside the Assembly, it is the majority view that the finance minister will eventually give in to the ruling party, as he did in the past. The parliamentary committee on trade and industry held separate preliminary deliberations on the extra budget proposal and sent it to the budget committee after increasing financial support for pandemic-hit small business owners by nearly three trillion won.