Korea′s finance minister Choi Kyung-hwan
says… a tax hike should be the last resort… for broader welfare.
Speaking at the National Assembly on Wednesday, Choi said… taxes will be raised only with
public concensus,… if… the government fails to finance necessary welfare programs
by digging up the underground economy and cutting unnecessary expenses.
He went on to say… the country′s ruling and opposition parties should first agree
on the scope of social welfare… before considering how it will be financed.
Choi′s comments come as the ruling Saenuri Party has slammed President Park Geun-hye′s
campaign pledge a day earlier… to increase welfare without a tax hike.