DP CONSIDERS PROVIDING RELIEF FUNDS

[Anchor Lead]

The ruling Democratic Party is considering providing disaster relief funds to all citizens by the Chuseok holiday. The goal is to stimulate domestic consumption as members of the public receive their first vaccine doses. However, the People Power and Justice parties say bringing up disaster relief subsidies before solving the issue of loss compensation is inappropriate.

[Pkg]

The Democratic party's leadership has pledged measures to boost the economy. It's now considering providing disaster relief subsidies to all citizens.

[Soundbite] Yun Ho-jung(DP floor leader) : "Inclusive easing policies and a supplementary budget including disaster relief funds for all citizens are urgent."

The party plans to pay out subsidies before the Chuseok holiday. It believes the right time is September, when 70 percent of the country's population will have received their first doses. Last year the amount of the first disaster relief fund paid to all citizens surpassed 14.3 trillion won. If compensation for business losses sustained during the pandemic is also taken into account this time, the amount could well surpass 20 trillion won. President Moon Jae-in said earlier that fiscal expansion should be maintained until next year. The ruling party also believes it's inevitable for stimulating domestic consumption and eliminating K-shaped polarization. The question is: Is there enough money? The ruling party apparently took into account some extra funds in the state treasury. The national tax income in the first quarter surged by 19 trillion won on-year. That's why financial authorities have slightly changed their stance after initially denying the probability of considering a supplementary budget. The People Power Party says setting a supplementary budget when even the retroactive payment of loss compensation to small businesses is difficult is absurd.

[Soundbite] Bae June-young(PPP spokesperson) : "Why is it okay to set a second supplementary budget and not okay to compensate business losses?"

The Justice Party also blasted the ruling party for bringing up disaster relief funds before settling the issue of loss compensation. The issues of disaster relief funds, supplementary budget and loss compensation will likely top the agenda of the June parliamentary session.