The Jeon-hyeon government’s economic policy…與 “Debt of 1050 trillion won” vs. “Expansion finance is inevitable” (comprehensive) :: Sympathy Media Newsis News Agency ::

Article Summary

Economic Policy Questions of the Preliminary Committee… Wen government economic evaluation
與 “National finance must be taken into account to ensure fiscal soundness”
“‘Health populism’ and ‘job fraud'”
“Do you follow the policies of public institutions in accounting?”
“The Ministry of Strategy and Finance uses lies to deceive the people”

[서울=뉴시스] Reporter Jeon Jin-hwan = A plenary meeting of the Special Committee on Budget and Settlement is being held for economic ministries at the National Assembly in Yeouido, Seoul on the 2nd. (joint photo) 2022.09.02. [email protected]


[서울=뉴시스] Reporter Kim Seung-min = The ruling and opposition parties exchanged arguing over the Moon Jae-in government’s policy evaluation at the Special Budget and Settlement Committee on the 2nd. The People’s Power pointed out problems such as income-led growth, public sector management, health insurance deficit, and statistical fairness during the Moon Jae-in administration, while the Democratic Party of Korea strongly opposed it, saying, “The government and the ruling party are desperate to scratch the former government.”

From 10 am on the same day, the National Assembly held a general policy inquiry in the economic field of the Preliminary Committee at the National Assembly, and continued to inquire with Deputy Prime Minister and Minister of Strategy and Finance, Choo Kyung-ho, the Economic Cabinet, and Chairman of the Audit Committee, Choi Jae-hae. Excluding specific policies or local issues such as mask wearing standards and the Act on Punishment of Companies with a Serious Accident, the workshops mostly focused on the policies of the entire government.

◆A general attack on the ‘Expanded Finances of the Wen Government’… “I have to look at the national finances.”
People’s Power emphasized the expansionary fiscal stance of the Moon Jae-in government, such as expansion of the public sector, income-led growth, and the ‘Korean version of the New Deal project’.

Rep. Kim Mi-ae said, “President Yoon Seok-yeol said, ‘The previous administration’s excuses do not work.’ “The Democratic Party has recently acknowledged its failure by changing the expression of income-led growth, which was the core tenet of the Moon Jae-in administration, to inclusive growth,” he said.

Rep. Kang Min-guk said, “The debt of public institutions, which was 499 trillion won at the end of 2016, has risen sharply to 583 trillion won at the end of 2021, the first time in five years. “I think it’s because they used the company. They forgot the sound future finances and used the blood tax to increase the manpower that could put a burden on the finances.”

Rep. Seo Jeong-sook also said, “The amount of health insurance expenditure has increased at a tremendous speed from 53 trillion won in 2016 to 77.6 trillion won in 2021 due to the rapid aging of the population, the health populist operation of the previous administration, and the poor management and supervision of the industrial complex.” The government has declared that it will strengthen essential medical institutions and severe treatment. I think this direction is desirable.”

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[서울=뉴시스] Reporter Kim Seon-woong = Deputy Prime Minister and Minister of Strategy and Finance Choo Kyung-ho answers questions during a plenary session of the Special Committee on Budget and Settlement held at the National Assembly in Yeouido, Seoul on the 2nd. (joint photo) 2022.09.02. [email protected]


Regarding the Digital New Deal project, Rep. Kim Young-sik said, “I have pointed out that the digital new deal project is a ‘national scam disguised as a job business’ since the supplementary budget was organized last year. % received less than 500,000 won,” he said.

Rep. Lee Joo-hwan called for an audit of the National Statistical Office during the Moon Jae-in administration. “After the implementation of the income-led growth policy in the first quarter of 2018, statistics came out that the gap between the rich and the poor had worsened. It has created a lot of suspicion that it has been mass-produced.”

“Will the former government continue to differentiate… Expansion finance was inevitable”
The Democratic Party defended the offensive of the people’s power by emphasizing the justification and performance of the expansionary fiscal policy in the COVID-19 phase. Ministers of the Moon Jae-in government, including Rep. Hwang Hee and Kwon Chil-seung, also stepped forward.

Rep. Hwang Hee asked Deputy Prime Minister Choo Kyung-ho, “‘What the Moon Jae-in government did’ is an inappropriate answer. Are you going to continue to distinguish what happened in the previous government? If you look at it with negative logic, the original purpose of a public institution is not going to fall based on how much money was invested and how much money was earned, not the policy content.”

Rep. Koh Young-in said, “Since Korea is not a country with a strong social safety net like the Nordic welfare state, we had no choice but to expand finances. Without the Moon Jae-in government’s extended finances, many people would have suffered and suffered social difficulties.” The ruling party is desperate to scratch the ex-government, saying it is a ‘eat-and-run’ and ‘pay-for-you government’ in the past three years of expansionary finances.”

Rep. Kim Young-bae said, “The national debt ratio ranking among 38 OECD countries is the same as it was in the early days of the Moon Jae-in administration, at 13th place. In other international organizations, the Moon Jae-in administration did a really good scientific quarantine and the economy was good, so this evaluation is not it.” It can be criticized, but the Ministry of Finance must not deceive the people by using lies.”

Regarding the withdrawal of nuclear power, Rep. Kwon Chil-seung said, “The president said, ‘I’ve been fooled by nuclear power outage for 5 years,’ but if you look at the world nuclear power and the investment cost of new and renewable energy, the game doesn’t work (there are more new and renewable energy). All over the world Did they do something stupid?” he said, “I think they will spur the export of nuclear power plants, but if you look at resource diplomacy, public officials are moving toward performance-oriented driving of government tasks.”

Rep. Jeon Yong-gi insisted on the need to inspect the duties of Justice Minister Han Dong-hoon and the Ministry of Public Administration and Security, but when Director Choi Jae-hae did not agree, “Institutional audits with criticism of ‘Moon Jae-in government personnel printing’ are fast and seemingly illegal right away. Can it be accepted that the place ‘must be reviewed’?”

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