[fn Editorial] National Task Cost Alone 210 Trillion, Honest Tax Discussion Needed

The Lee Jaemyung government, which was hastily launched due to the impeachment situation, unveiled the framework of 123 national tasks to be carried out over the next five years on the 13th. The strong will to revive the Korean economy, which has fallen into a low-growth swamp, is evident even in the large categories such as 'Innovation Economy Leading the World' and 'Balanced Growth for All'. In particular, the 'Square for All' platform, which aims to receive policy ideas from the general public while making policies well integrated into daily life, clearly reveals the Lee Jaemyung government's national philosophy of prioritizing communication with the people, making it refreshing.

The core of the 5-year national administration plan is to raise the potential growth rate, which has plummeted to the 0% range, to the 3% range and to join the ranks of the world's top 5 by entering the top 3 AI powers. The potential growth rate, an indicator that gauges the basic strength of the economy, has been on a downward path for 24 years since it was 5.4% in 2001. The National Planning Committee has put AI at the forefront as a 'divine move' to overcome low growth. It presented a blueprint to secure new growth engines based on building an AI highway for the industrial ecosystem's AI transformation and nurturing next-generation AI semiconductors, core technologies, and talents.

Meanwhile, the cost of fulfilling the pledges over the five-year term is estimated to be a total of 210 trillion won. It is said that the funds will be prepared by expanding tax revenue by 94 trillion won and reducing unnecessary expenditures by 116 trillion won. However, like the recently issued consumption coupons, there are many places where money will be spent to revitalize the economy in the future, but the treasury is shrinking, which is a concern.

The essence of national tasks is to improve the quality of life for the people. In short, it is to make people eat well and live well. It is said that the most difficult part of the National Planning Committee, which is equivalent to the past Presidential Transition Committee, was to match President Lee Jaemyung's 'eye level' of national administration, which was condensed through his experience as mayor, governor, and party leader, while refining key national tasks in each field over two months. It is said that dozens of revisions were made in the process of meticulously writing the design, step-by-step implementation plan, and policy expectations for each national task, which is the 'national household account book'. In this respect, the completeness of the new government's 5-year national task plan presented by the National Planning Committee is highly evaluated.

However, the lack of specific funding plans is a problem. Fulfilling pledges cannot be achieved solely through fiscal input without expanding tax revenue. Even fulfilling AI-related pledges will require astronomical budgets, and no matter how much you tighten your belt, it will not be easy. It is no wonder that President Lee even said at the 'National Finance Meeting' that day, "There are people who argue, 'Why borrow seeds from the next door, we should live with what we have.' When managing the national finances, there are many things to do, but there is no money to spend, so there is a lot of worry."

It is not enough to just raise corporate taxes. Although it is not easy to say 'we will collect more taxes' due to inevitable tax resistance, it is time to honestly express the current situation and go through the process of understanding and persuading the public to discuss tax increases. Of course, no one will be happy about paying more taxes.

However, to revive the dying engine of the Korean economy and pursue structural innovation through the great transformation of the industrial ecosystem, the treasury must first be solid. The political world should not only focus on vote calculations ahead of next year's local elections in June but also be prepared to face the uncomfortable truth of tax increases to achieve real growth. Now is the time for someone to put a bell on the cat's neck.