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Gov’t to Facilitate Passage of Livelihood Bills

Posted April. 11, 2008 03:06,   


President Lee Myung-bak Thursday instructed his presidential secretariat to speed up the passage of pending bills related to public living standards and state-affairs, with the ruling Grand National Party winning a solid majority in parliamentary elections on Wednesday.

Presidential spokesman Lee Dong-kwan said, “In a meeting with his chief aides, President Lee instructed them to accelerate a series of pending policies, saying a favorable condition was established, with the GNP securing a majority seats in the National Assembly.

He said the government has to make efforts to produce tangible results for the public and that things should be done to resolve the most urgent public needs first.

Cheong Wa Dae said the president’s instruction came in the wake of a number of business reports by presidential aides during the meeting on the bills and agendas required for the revision or passage of bills in the upcoming National Assembly sessions in May.

On the most urgent bills requiring immediate attention, the presidential spokesman said, “Easing corporate regulations, including banning commercial businesses from investing in banks, privatizing state-owned Korea Development Bank, scrapping conglomerates` investment ceilings and easing rules on non-banking holding companies, were mentioned as the most urgent bills to deal with.

In addition, he also mentioned measures including lowering corporate taxes, expanding investment in research and development (R&D), and increasing tax deductions. In particular, he said that a host of business reports were submitted to the president such as easing a wide range of regulations, curbing inflation and stabilizing prices on 52 necessity items.

“On the food safety issue, the Food Safety Basic Standard Act is expected to pass the National Assembly in May. Reform programs in the public sector will be implemented as soon as possible.”

The presidential spokesman added, “English education policies are likely to be approached as a mid- to long-term plan. Planned performance assessment of academic faculty members was approved by the president, and will be processed soon.

“Meanwhile, President Lee expressed his gratitude toward the nation and people, attributing the GNP’s solid victory in the parliamentary elections to public desire and expectation of a better economy and job creation,” he added.

The president said, “Now that we have a favorable condition (with a majority seats in the parliament), the government is expected to seek understanding and cooperation from the National Assembly in dealing with state affairs.” He also said, “With this election result, I once again realized that the people are a cut above the politics and the government should serve the people with humble attitudes.”