W428 Tln Budget Bill for Next Year Clears Nat'l Assembly

Write : 2017-12-06 00:54:36 Update : 2017-12-06 10:22:34

W428 Tln Budget Bill for Next Year Clears Nat'l Assembly

The National Assembly has passed the fiscal 2018 budget bill amid strong protest from the main opposition Liberty Korea Party(LKP).
 
The 428-trillion-won budget bill was approved during a plenary session held about 30 minutes after midnight on Tuesday night, four days after the legal deadline for its passage. 
 
Out of 178 lawmakers present at the session, 160 voted in favor, 15 against and three abstained. 
 
The budget is 137 billion won less than the initial proposal submitted by the government. 
 
LKP lawmakers who were opposed to the government's spending plan to increase public sector jobs and the corporate tax rate didn't participate in the vote. They walked out of the Assembly's main chamber before the vote, denouncing the budget bill as "Socialist." 

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