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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