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Back“Lee government, TK passing”… National power pledges ‘all-out support for one team’ in budget negotiations
“Lee government, TK passing”… National power pledges ‘all-out support for one team’ in budget negotiations
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연합뉴스1 hour agoPolitics2 min readSouth KoreaView original

“Lee government, TK passing”… National power pledges ‘all-out support for one team’ in budget negotiations

Quick Look

  • At the Gyeongbuk-Daegu Budget Policy Council, the People Power Party criticized the decrease in local allocation taxes due to the Lee Jae-myung administration's new Future Response Fund and promised to secure the budget for the TK region.
  • Daegu Mayor Choo Kyung-ho requested support, saying it would take away the future of the local area.

AI-generated summary

Why It Matters

The People Power Party held a budget policy council with Gyeongsangbuk-do and Daegu City and promised to secure the budget for the TK region. Local grant taxes are expected to decrease due to the establishment of the Lee Jae-myung administration's future response fund, and Gyeongbuk's ordinary grant taxes are expected to decrease by 4.5 trillion won, the largest in the country.

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On the 11th, the People Power Party held a budget policy consultation meeting with Gyeongsangbuk-do and Daegu City at the National Assembly and promised to do its best to secure the budget for the TK region, which is the party's core support base.

In particular, he criticized the Lee Jae-myung government for neglecting the TK region and predicted that the decrease in local allocation taxes in that region will be the largest due to the establishment of the Future Response Fund, emphasizing that the party will actively respond.

Representative Jang Dong-hyuk said at the budget policy consultation meeting with Gyeongbuk Province on this day, "Gyeongbuk has the largest decrease in local allocation taxes, and we will make every effort to correct it. The ruling and opposition parties must join forces so that the administrative integration of Daegu and Gyeongbuk can also be achieved." He added, "Gyeongbuk has always been our most reliable ally when our party is experiencing difficulties. We will run as one."

Floor leader Jeong Jeong-sik also said, "The Lee Jae-myung administration's budget plan for next year threatens even local finances, which are the foundation for balanced national development," and expressed concern, "If the reform of the local grant tax system in conjunction with the establishment of a new future response fund worth 162 trillion won becomes a reality, Gyeongbuk's ordinary grant tax is expected to decrease by 4.5 trillion won, the largest in the country."

In response, North Gyeongsang Province Governor Lee Cheol-woo said, "Recently, the term 'TK passing' has been around. They say that nothing will happen after this government takes office. If our party does not actively fight, local regions will further disappear. The local allocation tax is a way to steal the money promised and given by the people."

At the budget policy consultation meeting with Daegu City, the party leadership criticized the current government's "neglectful treatment of Daegu" (Representative Jang) and said, "We will thoroughly screen out unnecessary and wasteful expenditures in the budget review and take thorough care to ensure that Daegu's major projects are evaluated fairly. The party will become a 'one team' and serve as a priming force for Daegu's leap forward."

Then, Daegu Mayor Chu Kyung-ho said of the Future Response Fund, "If you say you're responding to the future, it's the same as taking away the future of the local area," and requested, "The People Power Party also actively supports it to ensure that the statutory financial resources of local governments that were initially scheduled are guaranteed." He also requested cooperation at the party level in including Kyungpook National University in the project to create 10 Seoul National University universities.

On this day, a large number of local lawmakers also attended the budget policy consultation meeting with Gyeongbuk Province and Daegu City, emphasizing administrative integration, construction of a new integrated airport, and support for forest fire damage in addition to the local allocation tax issue.

What to Watch

AI outlook — possibilities, not facts

  • The People Power Party will actively address the issue of reduction in local allocation taxes in Gyeongbuk and Daegu regions during the National Assembly budget review.

    Likely · Within weeks

  • There is a possibility that discussions on administrative integration between Gyeongbuk and Daegu will lead to discussions between the ruling and opposition parties.

    Possible · Within months

Open Questions

  • The specific scale and financing method of the new Future Response Fund
  • Details and implementation timing of local allocation tax system reform
  • Progress status of administrative integration and integrated new airport construction

Related Topics

This article was originally published by 연합뉴스.

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