Park's populist pledges prevent policy progress
Monday, February 9, 2015
Significance
Park's approval rating has plunged to 29% after several political and policy disasters, and voters are furious over a tax code change which leaves most worse off after the reverse was touted.
Impacts
- Corporation tax, cut by Park's predecessor from 25% to 22% on Laffer curve grounds, will probably be raised again soon.
- Park risks becoming a lame duck president, but must still serve three more years.
- Criticised for poor personnel choices, Park may be forced into a larger reshuffle of her cabinet and senior presidential staff.
- Salvation for Park may come as lower oil prices filter through, giving the government more room for manoeuvre.
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