Jung Jeom-sik urges president to change policy ahead of budget review

People Power Party floor leader Jung Jeom-sik urged President Lee Jae-myung on the 30th to move away from populist policies ahead of the review of next year's budget proposal. He also criticized the government's proposed Future Response Fund, raising concerns about the burden on future generations.

At a meeting on preparations for the parliamentary audit at the National Assembly that day, Jung said the budget review was scheduled for November, beginning with President Lee Jae-myung's budget address to the legislature early the following week. He accused the administration of running rampant across areas including the economy, livelihoods, public safety, the rule of law, diplomacy and security.

He pointed out that the government's budget proposal for next year totaled 820 trillion won, a 12.8% increase from the previous year. Citing the national fiscal management plan, he said national debt would rise by more than 321 trillion won by 2030 compared with this year's supplementary budget baseline.

Regarding the Future Response Fund, he claimed the government was pursuing a fund worth 162 trillion won on the grounds of increased tax revenue. Saying there was also talk that the fund could exceed 200 trillion won, he accused the government of seeking to spend public funds beyond parliamentary control.

Jung reiterated his demand that the president announce a break with those policies in the upcoming budget address. He said the People Power Party would cooperate across party lines if the government and ruling party worked toward sound public finances.