Every year, we analyze budget related laws and review how they have impacted the national budget in an annual published report.
According to this report, the total number of legislations included in this analysis is 943. These items include 459 budget related bills that were passed in 2011. Among them, the report has 424 legislations that are related to expenditures and 35 related to revenue.
The expenditure budget for the fiscal year 2012 was influenced by 424 budget related laws passed in 2011 accounting for 6.3424 trillion won in aggregate. The average examination period of budget related laws passed in 2011 is 160 days per bill, 98 days for 459 budget related bills, and 220 days for 484 non-budget related bills.
As a result of this report, we have observed the following.
First, budget related bills by Committees do not include cost estimation materials. However, it is needed to supplement related procedures and regulations for inclusion of cost estimations to the corresponding legislation presented before the Plenary Session at the least.
Secondly, the bill cost estimation system functions as a formal requirement and material for consideration when budget related bills are proposed, suggested, and introduced. It should make people aware of the estimated cost that will be involved in the national budget. In this regard, it is necessary to review cost estimation system adoption so that, in the future, laws passed by the National Assembly regarding the national budget contain this necessary information.
Kang Sangkyu, Yeo Eungoo
According to this report, the total number of legislations included in this analysis is 943. These items include 459 budget related bills that were passed in 2011. Among them, the report has 424 legislations that are related to expenditures and 35 related to revenue.
The expenditure budget for the fiscal year 2012 was influenced by 424 budget related laws passed in 2011 accounting for 6.3424 trillion won in aggregate. The average examination period of budget related laws passed in 2011 is 160 days per bill, 98 days for 459 budget related bills, and 220 days for 484 non-budget related bills.
As a result of this report, we have observed the following.
First, budget related bills by Committees do not include cost estimation materials. However, it is needed to supplement related procedures and regulations for inclusion of cost estimations to the corresponding legislation presented before the Plenary Session at the least.
Secondly, the bill cost estimation system functions as a formal requirement and material for consideration when budget related bills are proposed, suggested, and introduced. It should make people aware of the estimated cost that will be involved in the national budget. In this regard, it is necessary to review cost estimation system adoption so that, in the future, laws passed by the National Assembly regarding the national budget contain this necessary information.
Kang Sangkyu, Yeo Eungoo