Record 821 Trillion Won Budget: "A Great Transition to Growth for All"

[Anchor]

President Lee Jae-myung visited the National Assembly to deliver a policy address urging the passage of next year's budget bill. He emphasized that the country must shift to "growth for all," in which all citizens share the benefits evenly, rather than growth concentrated on only a few.

Reporter Ha Jeong-yeon reports.

[Reporter]

Regarding next year's government budget bill submitted to the National Assembly, drawn up at a record 820.9 trillion won, President Lee Jae-myung explained as follows.

[President Lee Jae-myung: Our economy is moving beyond the stage of quantitative development and entering a new dimension. South Korea's state affairs and the budget of our Republic of Korea must match that.]

Stating that while our economy is showing a V-shaped recovery, the shadows of inequality and polarization remain, he said that a new growth formula must be applied.

[President Lee Jae-myung: We must make a great transition to "growth for all," where all regions and all citizens evenly share the opportunities and achievements of growth.]

As the first step, he proposed three major livelihood projects: jobs, financial support for working-class citizens, and housing stability policies.

He also said that the government will invest in AI and future growth engines, while strengthening investments to create a safer nation.

Protests from the opposition also erupted while he was explaining the issue of the Future Response Fund, considered the biggest point of contention in this budget.

[President Lee Jae-myung: Yes, if you have something to say, please go ahead, and then I will finish. (Why issue new government bonds when there is excess tax revenue?)]

The government maintains the position that excess tax revenue from sectors such as semiconductors should be operated as a fund for rebounding the potential growth rate and fiscal stability, but the People Power Party opposes this, arguing that paying off national debt comes first.

President Lee stressed that execution and speed are key, requesting the passage of the budget bill by the statutory deadline of December 2.

However, as the People Power Party has labeled this budget bill a "declaration of looting the future," passing it within the deadline is not an easy task.
※ Please note: This article was translated by AI and may contain errors.