Ruling party pushes to provide universal relief handouts in Jan.
By Joo Kyung-don
SEOUL, Nov. 9 (Yonhap) -- The ruling Democratic Party (DP) said Tuesday it will try to provide COVID-19 relief handouts to all people in January after earmarking the money in the next year's national budget despite opposition from the government and its rival party.
The DP plans to use this year's excess tax revenue to fund its universal relief grant scheme. If the government does not issue additional state bonds, the party believes 200,000-250,000 won (US$170-$210) can be given to each person.
"We will try to reflect them in next year's budget and plan to give them out as soon as possible when the new fiscal year starts in January," said DP floor leader Rep. Yun Ho-jung. "We will continue talks with opposition parties and the government so that discussions over the handouts can go smoothly."
The DP's push comes after its presidential nominee, Lee Jae-myung, called for giving extra relief grants to all of South Korea's 52-million population using excess tax revenue.
He proposed the government should give at least 300,000-500,000 won per person, claiming the relief amount is too small considering the nation's GDP and in comparison with other countries.
But considering that a maximum of 15 trillion won of the government's expected tax revenue surplus is available for use, the DP is likely to offer an amount that is smaller than Lee's proposal.
"If tax revenue surplus is about 10-15 trillion won, then relief grants of 200,000-250,000 won can be given to all people," said Rep. Park Wan-joo, who heads the DP's policy coordination committee.
Finance Minister Hong Nam-ki has already expressed his opposition to universal relief, saying providing targeted support is more effective and the government has already drawn up the national budget for 2022.
The main opposition People Power Party (PPP) has been also opposing the idea, claiming it is a "bad populism."
"Under fiscal law, when there is tax revenue surplus, it should be used first to pay national debts or to give local financial subsidies, but since it is difficult to fund its relief grants scheme, they are playing 'tricks,'" PPP presidential candidate Yoon Seok-youl wrote on his Facebook page.
"Robbing people's right pocket to fill their left pocket and taking political benefit as a commission in that process are nothing but bad populism," he said.
kdon@yna.co.kr
(END)
-
New Defense Minister Lee takes office, warns of 'stern' response to possible N.K. provocations
-
(LEAD) Yoon taps ex-deputy NSA for spy chief
-
Gov't to significantly increase international flights to meet travel demand
-
(2nd LD) BTS wins three Billboard Music Awards, marking 6th year to win an award
-
(URGENT) Yoon takes oath of office
-
Full text of President Yoon's inaugural address
-
(2nd LD) Yoon offers to revive N.K. economy with 'audacious plan'
-
S. Korea to send condolence delegation to UAE over death of president
-
(LEAD) Moon arrives at retirement home after attending Yoon's inauguration ceremony
-
(4th LD) Yoon champions freedom, offers to revive N.K. economy with 'audacious plan'
-
S. Korean volunteer fighter in Ukraine doesn't regret his action despite facing imprisonment at home
-
(LEAD) Crypto investor probed for alleged trespassing at Terraform CEO's home
-
Crypto investor probed over allegedly visiting house of Terraform's CEO
-
S. Korean Navy SEAL-turned-YouTuber in Ukraine claims to be injured
-
S. Korea's Black Eagles aerobatic team to perform in British air shows in July