Ruling Party Scrambles to Calm Public Sentiment Over Tax Revision Plan

[Anchor]

As backlash against the government's tax revision plan grows, the Democratic Party has held a policy checkup with government officials. They stepped in to soothe public sentiment regarding real estate by conveying the realities of non-resident single-home owners and the younger generation to the government.

[Reporter]

The inaugural meeting of the Democratic Party's Housing Market Stabilization Task Force was convened to review overall real estate policies, including housing supply, taxation, and finance.

Government officials also attended, including Financial Services Commission Chairman Lee Eok-won, along with vice ministers from the Ministry of Finance and Economy and the Ministry of Land, Infrastructure and Transport.

With the government scheduled to release housing supply measures and comprehensive financial plans today, the Democratic Party pointed out that housing supply bottlenecks persist in Seoul and other areas while anxiety in the lease and jeonse markets is intensifying. They emphasized a "speed war in supply" through measures such as vitalizing modular construction methods.

[Han Jeong-ae / Democratic Party Policy Committee Chair: Institutional improvements are needed to increase the supply of non-apartment housing such as urban living houses or officetels that can be supplied within a short period, and bold acceleration of supply speed through the introduction of modular methods is necessary.]

In the subsequent closed-door meeting, opinions were reportedly raised to specify the actual construction start dates for housing supply.

One attendee conveyed, "Instead of vague supply measures, there were demands to enhance market trust by specifying details such as how much earlier construction start dates can be brought forward and how many households will receive financial support and what kinds of benefits they will get."

Regarding the tax revision plan, the Democratic Party repeatedly conveyed concerns to the government side, emphasizing that deep consideration must be given to market realities—such as the circumstances where "non-resident single-home owners" inevitably cannot reside in their homes—as well as the housing anxiety of the younger generation.

[Kim Young-bae / Democratic Party lawmaker: We delivered all the various voices expressing concerns related to taxation, including cases of non-resident single homes, and particularly these voices of young people.]

There were also proposals to expand "first-time homebuyer loans" for the younger generation and genuine homebuyers, and to drastically increase the National Housing Fund for low-interest jeonse loans.

Meanwhile, Song Young-gil, a candidate running in the Democratic Party leadership race, pointed to real estate policy as the cause of President Lee Jae-myung's declining approval ratings and conveyed public sentiment opposing the tax revision plan.

[Song Young-gil / Democratic Party Leadership Candidate: The general argument is not to touch real estate taxes.]

The Democratic Party plans to hold a general meeting of lawmakers today to gather consensus on the real estate tax revision plan and housing supply measures.

(Photo: Yonhap News / Video reporting: Oh Young-chun, Kim Yong-woo | Video editing: Nam Il, Design: Lee Ga-jin)
※ Please note: This article was translated by AI and may contain errors.