[단독]19 billion won allocated to reduce noise between floors, 100 million won in execution… 11 trillion won in unused budget, the largest ever

Only one-third of the budget for replacing air conditioners was spent
Massive ‘unavailability’ due to failure in demand forecasting
Inefficiency grows amidst unprecedented tax puncture
“The failure to receive necessary business will repeat itself”

Last year, when making the budget, the Ministry of Land, Infrastructure and Transport allocated 19 billion won to two new projects, saying that it would prevent conflicts between neighbors due to noise between floors, but in reality, only 110 million won was executed. The 15 billion won inter-floor noise performance improvement project was designed to provide low-interest loans to low-income families or middle-class families with children to purchase and install noise mats.

However, because it was a loan project rather than direct support, it did not receive much response, and the actual execution amount was only 110 million won. A budget of 4 billion won was allocated for the inter-floor noise improvement remodeling project, which lent construction costs to construction companies at an annual interest rate of 4%, but due to the limitation of being a loan project with a small interest rate benefit, there was no execution, so not a single penny was spent.

● The country is struggling financially, but there are large-scale waste disposal issues everywhere.

According to the Ministry of Strategy and Finance, the National Assembly Budget Office, and People Power Party lawmaker Koo Ja-keun on the 24th, there were many cases where the government, while executing the budget or funds last year, did not use the budget that was organized, such as the Ministry of Land, Infrastructure and Transport projects, and disposed of it as unused. The amount of unused budget last year was 10.8 trillion won, the largest ever. As taxes were not collected, a record-breaking ‘tax revenue gap’ of over 56 trillion won occurred last year, and there are criticisms that the government, which has been tightening its belt, is failing to accurately predict budget needs, resulting in inefficient budget execution.

In the case of the Ministry of Trade, Industry and Energy, last year, they used the Electric Power Industry Infrastructure Fund to install doors on open refrigerators in food stores and to replace old air conditioners for small business owners with high-efficiency ones. However, the door installation project, which was promoted with a fund of 10 billion won, only executed 1.01 billion won as of March of this year. The old air conditioner replacement project, which had a fund of 30 billion won, also had poor results, executing only 11.118 billion won as of March of this year. It was not popular because it was structured to only subsidize up to 40% of the cost of installing doors and replacing air conditioners. Rep. Koo pointed out, “They failed to predict demand while overlooking the fact that the effect of saving electricity bills is not that great compared to the cost burden on small business owners.”

● Last year’s budget unused amount was close to 11 trillion, the largest ever

There have also been many large-scale cases of non-use in projects aimed at helping young people and soldiers save money. In the case of the Youth Leap Account, which this government is promoting as a national task, the number of new accounts opened last year was only 511,000, far less than the expected 3.06 million, and only 43.2 billion won of the 344 billion won in funds provided to the Small Business Finance Promotion Agency was actually executed.

The Soldiers’ Tomorrow Preparation Support Project, which provides additional money in connection with the Soldiers’ Tomorrow Preparation Savings Plan that active-duty soldiers subscribe to, also secured a budget of 658.4 billion won last year, but only 501.4 billion won was executed, resulting in an unused amount of over 150 billion won. An official from the Budget Policy Office said, “This is an unused case that occurred due to inaccurate calculations of the actual subscription rate and subscription amount.”

The Youth Additional Employment Incentive Project, which was launched to create jobs for young people by providing subsidies when small and medium-sized businesses additionally hire young people as regular employees, had a budget of 229.4 billion won allocated last year, but only 70.4 billion won was executed due to insufficient publicity, resulting in an execution rate of only 30%.

Ha Jun-kyung, a professor of economics at Hanyang University, said, “The budget is limited, but if a project with insufficient demand is launched, a situation will inevitably arise where the projects that are truly needed will not receive a budget.”

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#Unused budget#Reducing inter-floor noise

Sejong = Reporter Kim Do-hyung [email protected]
Sejong = Reporter Song Hye-mi [email protected]

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2024-09-25 09:31:55