President Lee Jae-myung said during the National Assembly's administrative speech on the supplementary budget plan for the second additional budget on the 26th, "I will promote a tax revenue adjustment of 10.3 trillion won to signal the start of fiscal normalization."
President Lee Jae-myung noted, "There has been a cumulative tax revenue shortfall of over 80 trillion won during the years 2023 and 2024, and a significant level of tax revenue shortfall is projected for this year as well," adding, "If the tax revenue shortfall is neglected, the government will have no choice but to carry out large-scale unspent budget processing at the end of the year. Not only will the government be unable to spend the budget as planned, but support for local government finance will also diminish. This essentially acts as a barrier to the livelihoods and economic recovery through austerity measures."
He also stated, "This supplementary budget reflects the tax revenue adjustment. This is to respect the fiscal stability and the National Assembly's authority to review and confirm the budget," and added, "The new government will implement transparent and responsible fiscal policies rather than irregularities and loopholes. Even for budgets that have already been allocated, we will execute only necessary projects appropriately."