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The second emergency disaster grant goes in the wrong direction. The purpose of “One-on-one Disaster Assistance” (Chairman Moon Jae-in, Senior Advisors Meeting on 7th) has vanished. As if they gave Chuseok pocket money, they spread the communication costs over 20,000 won, spending almost 1 trillion won. It is the “populism of the cost of communication”. Meanwhile, the fiscal deficit is expected to exceed 100 trillion won.
Populism spills 1 trillion won
野 “Sale of ties to appease public sentiment”
The deficit exceeds 100 trillion won
On the 9th, the party and government announced that they would hold a meeting with the Democratic Party leadership at the Blue House at the invitation of President Moon, and that they would provide communications costs of 20,000 won to those 13 and older. Chief Democratic Party spokesperson Choi In-ho said: “Executive Director Nak-yeon Lee requested collective support and said it would be comforting to provide communication costs to people who are tired of the new coronavirus infection (Corona 19) even if the amount is not large. ” Spokesman Choi said: “(In response to Lee’s comments) President Moon said, ‘I have the same idea. Since the number of non-face activities of people increased rapidly due to the crown, it would be better to provide uniform support for communication expenses without distinction, “he said.
President Moon Jae-in will meet with the leaders of the Democratic Party, Lee Nak-yeon, and Kim Tae-nyeon, the chairman of the Democratic Party at the Blue House on the 9th. Yunhap news
As a result, the original plan of paying only those aged 17-34 and over 50, excluding those aged 35-49, was abolished. There was growing opposition to selective pay in the 1930s and 1940s. People’s Power spokesperson Bae Jun-young said: “I thought it was intensive support for suffering small business owners and freelancers, but which one? Is it a lump sum payment? ”he said.
Payments over the age of 13 are practically all national payments. According to demographic data from the August resident registry, those over the age of 13 (46.4 million people) represent 89.5% of the total population. As the number of support targets increases by more than 40%, the amount of support is expected to increase from 650 billion won to 930 billion won. This is more than 10% of the half to half 7 trillion won disaster grant budget that must be augmented by debt.
As a result, there is the possibility that money for those in need of intensive support may be reduced. The government initially planned to spend around 3 trillion won for the new desired fund for small business owners, 2 trillion won for emergency employment stabilization support, and allocating the remainder for living expenses for low-income families, and the second child care coupon budget. President Moon also promised on the 7th that he will focus on the sectors and classes with the most damage and support as thick as possible.
If you do not reduce the other sectors, you will have to pay more debt and increase the size of the fourth supplement. The fiscal balance deficit (government revenue-expenditure) is already 9.810 trillion won (based on the managed fiscal balance) from January to July this year, down from 100 trillion won. The national debt reaches 840 trillion won reflecting only the first and third supplemental supplement, and 850 trillion won when the fourth supplement is reflected in the range of 7 trillion won. As a fourth complement, the ratio of national debt to gross domestic product (GDP) at the end of this year is close to 44%.
Professor Ahn Dong-hyun from the Department of Economics at Seoul National University said: “It is very effective to give more to people who have suffered real harm through detection support, but the policy objective is unclear whether the blanket payment of communication costs is to boost consumption or help the vulnerable. ” It is a problem that arises from the initiative ”. The beneficiaries are also distraught. Office worker Park Mo (39) said, “I’m curious how much 20,000 won will help you live in a house,” he said. “I want to use it correctly where it is really needed.” Sang-bong Kim, an economics professor at Hansung University, criticized it as “a strange measure that cannot understand the purpose,” saying, “If you request 20,000 won, it is the money that goes directly to the news agency.”
Meanwhile, the Party and Cheong also brought out the ‘Good Rent’ card again. President Moon ordered a plan to extend the rent cut tax credit. The 50% rental discount tax credit due to Corona 19 ended last June. Although the rent is a huge burden on the self-employed, the landlord has no scope to reduce the rent. In Seoul’s Gwangjang Market, which campaigned to cut rent by 20%, restoration to its original condition has increased since July. This is because more than 20,000 stores are closed from April to June in Seoul alone, making it difficult for tenants. Dae-Jung Kwon, a professor in the Department of Real Estate at Myongji University, raised doubts about the effectiveness of the rent, saying, “There is no landlord who can reduce the rent from 2 million to 3 million won to receive between 200,000 and 300,000 won. won in tax benefits. ”
1st · 2nd Disaster Subsidy Comparison Chart = Kim Eun-kyo [email protected]
◇ Summary of Disaster Grants = Small business support serving the purpose of personalized emergency support has reached a maximum of 2 million won. 12 high-risk facilities that had to be closed in accordance with government quarantine guidelines, such as PC rooms, singing practice centers, health clubs, large academies and buffets. In other industries, whose sales have dropped significantly compared to last year, desired new funds will be paid for small business owners of up to 1 million to 1.5 million won. Based on data from the National Tax Service reported last year, a plan is being promoted to select and pay the target person without additional proof of income, considering the increase or decrease in sales. Entertainment establishments are excluded.
A second part of the Corona 19 Emergency Employment Security Grant will also be awarded to special type workers (special advisers) such as substitutes, freelancers and unpaid graduates. Up to 2 million won is expected to be backed by increasing the amount of the first 1.5 million won (3 months every month 500,000 won). There is no separate application procedure, and a plan to apply in a lump sum for the first applicant and receive the remaining additional applications is under discussion.
A plan is being coordinated at the last minute to provide a 500,000 won monthly job search allowance to young people who have not worked for a long time. The unemployment rate experienced last month for people aged 15-29 was 24.9%, the worst ever until August. However, overlapping parts need to be adjusted, such as the Youth Job Search Support Fund (500,000 won per month for 6 months, maximum 3 million won per person) and the job success package already in place. .
Child care coupons that were paid in the early days of the Corona 19 crisis will also be posted again. The per capita amount will decrease from 400,000 won (4 months of 100,000 won per month) to 200,000 won, but the payment targets will increase. It widened the range from being limited to those who are entitled to the 7-year-old child benefit to primary school students. It reflected the point that difficulties at home are great due to the closure of elementary school and the conversion of online classes. The payment method will also change from card points to cash.
On the 10th, a comprehensive emergency plan for people’s livelihoods and economy and the fourth supplementary bill containing these details will be announced. Vice Premier Hong Nam-ki and the Minister of Strategy and Finance said on Facebook that “I will submit the fourth supplementary bill to the National Assembly this week.”
Sejong = Reporter Cho Hyun-suk and Lim Seong-bin, Seoul = Reporter Kim Hyo-seong [email protected]
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