ID :
96795
Fri, 12/25/2009 - 20:04
Auther :
Shortlink :
https://www.oananews.org//node/96795
The shortlink copeid
Ruling party to come up with 2010 budget revision plan over the weekend
SEOUL, Dec. 25 (Yonhap) -- The ruling Grand National Party (GNP) plans to
announce a revision plan to the government's 2010 national budget over the
weekend so it can be passed in parliament within the year, sources said Friday.
Sources said that while formal talks were not planned with the main opposition
Democratic Party (DP) during the day, lawmakers were engaged in closed-door
meetings to review details of next year's spending plan.
They said emphasis will be placed on increasing money allocated for low-income
groups and to strengthen the country's welfare polices in the new year, which has
been requested by the DP.
The party that has a clear majority in the 299-seat National Assembly, however,
did not elaborate on possible cuts that could be made to the so-called four major
rivers development project.
The project proposed by President lee Myung-bak calls for the government to spend
3.5 trillion won (US$2.9 billion) by 2012 to development the Han, Nakdong, Geum
and Yeongsan rivers in order to prevent floods and cope with water shortages.
Opposition parties have claimed that the river project is a precursor to the
building of inland canals that critics say could wreck havoc on the country's
eco-system and would not be economically viable.
DP lawmakers, along with other minor parties, have boycotted budget deliberations
and demanded that the government and the GNP drastically cut money earmarked for
the rivers project.
The presidential office and the GNP countered that the river project has nothing
to do with building a canal.
"A revised budget bill should be ready by Sunday at the latest, so the party can
take this to the DP for negotiations," GNP floor leader Ahn Sang-soo said.
The DP is also expected to come up with it own proposal by Monday.
If both parties forward their revised plans by early next week and agree on a
compromise, they may still be able to pass the budget bill within the year.
The National Assembly will convene a plenary session next Wednesday and Thursday
to allow the passage of the national budget.
Failure to reach a deal could force Seoul to pass a provisional budget only
allowing spending within the range of the previous year's budget, translating
into no new projects that policymakers claim are vital to help economic recovery.
Despite South Korea's volatile political environment, no provisional budget has
ever been set since the system was first introduced in 1960.
Under due legislative process, lawmakers should have passed the bill after the
100-day regular session that ended Dec. 9.
Parliament had engaged in extra sessions since Dec. 10 to sort out differences,
but could not reach an understanding.
yonngong@yna.co.kr
(END)
announce a revision plan to the government's 2010 national budget over the
weekend so it can be passed in parliament within the year, sources said Friday.
Sources said that while formal talks were not planned with the main opposition
Democratic Party (DP) during the day, lawmakers were engaged in closed-door
meetings to review details of next year's spending plan.
They said emphasis will be placed on increasing money allocated for low-income
groups and to strengthen the country's welfare polices in the new year, which has
been requested by the DP.
The party that has a clear majority in the 299-seat National Assembly, however,
did not elaborate on possible cuts that could be made to the so-called four major
rivers development project.
The project proposed by President lee Myung-bak calls for the government to spend
3.5 trillion won (US$2.9 billion) by 2012 to development the Han, Nakdong, Geum
and Yeongsan rivers in order to prevent floods and cope with water shortages.
Opposition parties have claimed that the river project is a precursor to the
building of inland canals that critics say could wreck havoc on the country's
eco-system and would not be economically viable.
DP lawmakers, along with other minor parties, have boycotted budget deliberations
and demanded that the government and the GNP drastically cut money earmarked for
the rivers project.
The presidential office and the GNP countered that the river project has nothing
to do with building a canal.
"A revised budget bill should be ready by Sunday at the latest, so the party can
take this to the DP for negotiations," GNP floor leader Ahn Sang-soo said.
The DP is also expected to come up with it own proposal by Monday.
If both parties forward their revised plans by early next week and agree on a
compromise, they may still be able to pass the budget bill within the year.
The National Assembly will convene a plenary session next Wednesday and Thursday
to allow the passage of the national budget.
Failure to reach a deal could force Seoul to pass a provisional budget only
allowing spending within the range of the previous year's budget, translating
into no new projects that policymakers claim are vital to help economic recovery.
Despite South Korea's volatile political environment, no provisional budget has
ever been set since the system was first introduced in 1960.
Under due legislative process, lawmakers should have passed the bill after the
100-day regular session that ended Dec. 9.
Parliament had engaged in extra sessions since Dec. 10 to sort out differences,
but could not reach an understanding.
yonngong@yna.co.kr
(END)
