“I agree with the expansionary fiscal policy… How it is used is also important” Claims “Limited universal support, not ‘universal support’ for all citizens”
With the first summit meeting between President Yoon Seok-yeol and Democratic Party of Korea leader Lee Jae-myung scheduled, Gyeonggi Province Governor Kim Dong-yeon’s past remarks about the ‘250,000 won per person livelihood support fund’ advocated by Lee are being reexamined.
In a phone interview with CBS’ ‘Kim Hyun-jung’s News Show’ on the 27th of last month, Governor Kim said, “We agree that a supplementary budget or expansionary fiscal policy should be implemented even now,” but added, “However, where and how it is spent is very important.” He said.
In response to the host’s question, ‘Are you opposed to universal payments?’, he responded, “Rather than opposing it, it would be better in terms of stimulating the economy and impact on prices to provide more thorough and thicker protection to low-income groups such as small business owners and the vulnerable class rather than to all citizens. He cautioned against an expanded interpretation, saying, “I think it will also be a response to the economic crisis that will become more difficult in the future.”
When asked, “Does this mean selective support?” he responded, “It doesn’t seem like it is selective, but the scope of the target is wide. “There are a very large number of small business owners and vulnerable groups,” he explained. “In some ways, it is not wrong to say that this is somewhat limited universal support.” He went on to say, “Given the nature of inflation and fiscal policy, targeting can be much more effective.”
Governor Kim’s remarks are interpreted as meaning that while he supports expansionary fiscal policies such as the supplementary budget, small business owners and vulnerable groups should be considered first, rather than the ‘universal support’ that Representative Lee advocates.
Governor Kim also criticized the government’s ‘austerity budget’.
He said, “It is truly foolish for the government to implement a tightening fiscal policy rather than an expansionary fiscal policy amidst the current economic situation and difficulties,” and added, “If fiscal policy is implemented in line with alleviating the burden on the working class and vulnerable groups due to high interest rates, price stimulation can be minimized.” “It can be done,” he pointed out.
Reporter Cho Young-dal [email protected]
Tags: Gyeonggi Governor Kim Dongyeon Limited support Lee Jaemyeongs livelihood support fund
