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Bill: Economic Reform Act
Details
Submitted by[?]: Conservative Party (보수당)
Status[?]: passed
Votes: This is an ordinary bill. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: August 5366
Description[?]:
| Dear Honourable Colleagues, We are proposing the following articles to remove government influence over certain industries and institutions. We are also proposing the articles to provide more fairness in the marketplace. The aim of these articles is to provide more stability, fairness and competition in our economy. Alis Jae Prime Minister |
Proposals
Article 1
Proposal[?] to change Central Bank oversight and regulation (if a central bank exists)
Old value:: The government appoints the head of the central bank and an executive board to manage the central bank but does not otherwise interfere in its operations.
Current: The central bank is an entirely independent agency of the government.
Proposed: The central bank is an entirely independent agency of the government.
Article 2
Proposal[?] to change Closed shops are places of employment where only members of a specific union are allowed to work; union shops can hire non-members, but these have to become members after a certain time; agency shops can hire non-members, who have to pay a fee to cover the unions costs. All three are erected by union agreements. (Only valid if unions are legal)
Old value:: Closed shops, union shops and agency shops are legal.
Current: Only open shops are legal.
Proposed: Only open shops are legal.
Article 3
Proposal[?] to change Policy on the charging and collection of interest on loans
Old value:: Banks and financial institutions charge interest on loans and are regulated
Current: The central bank determines the policy on charging interest on loans (if one exists)
Proposed: The central bank determines the policy on charging interest on loans (if one exists)
Article 4
Proposal[?] to change Employer's rights in regards to firing striking workers.
Old value:: Employers can fire workers who are deemed to have gone on strike without reasonable reasons.
Current: Employers can fire workers who are deemed to have gone on strike without reasonable reasons.
Proposed: Employers cannot fire workers who have gone on strike.
Article 5
Proposal[?] to change
The government's policy regarding foreign investments.
Old value:: Foreign investors may freely invest in national companies.
Current: Foreign investors may invest in national companies, but may not get a majority share.
Proposed: Foreign investors may invest in national companies, but may not get a majority share.
Article 6
Proposal[?] to change Government policy on industry and subsidies to industrial operations.
Old value:: Certain industries are owned by the state, all others are under private ownership.
Current: The government acts as an investor of last resort, by nationalizing failing industries that provide vital goods or services.
Proposed: The government acts as an investor of last resort, by nationalizing failing industries that provide vital goods or services.
Article 7
Proposal[?] to change The government's policy concerning phone services.
Old value:: The state subsidizes the phone service of low income families, and regulates the rates providers can charge for phone service.
Current: The state subsidizes the phone service of low income families but does not regulate the rates providers can charge for phone service.
Proposed: The state regulates the rates providers can charge for phone service.
Article 8
Proposal[?] to change The right for a person to prostitute himself or herself.
Old value:: Prostitution is legal and a recognized profession.
Current: Prostitution is illegal.
Proposed: Prostitution is illegal.
Article 9
Proposal[?] to change Secondary strike action.
Old value:: Any trade union can go on a sympathy strike in support of other striking workers.
Current: Secondary strike action is illegal. Workers and unions can only go on strike for their own pay and conditions.
Proposed: Secondary strike action is illegal. Workers and unions can only go on strike for their own pay and conditions.
Article 10
Proposal[?] to change The government's position towards the stock exchange(s).
Old value:: Stock exchanges are allowed but are regulated.
Current: Stock exchanges are allowed but are regulated.
Proposed: Stock exchanges are allowed and are unregulated.
Debate
These messages have been posted to debate on this bill:
| Date | 00:22:39, September 20, 2023 CET | From |  🌞家家戶戶公明大拜黨🌞 | To | Debating the Economic Reform Act |
| Message | we oppose the lack of regulation for the stock exchanges. government oversight is necessary to avoid anarchy and chaos; deregulatory measures may bring short-term economic growth but will ultimately only hamper the economic stability and ease of doing business in Baeguk. |
| Date | 12:55:58, September 20, 2023 CET | From | Conservative Party (보수당) | To | Debating the Economic Reform Act |
| Message | We believe article 10 will help to increase competition and will provide economic growth. If the deregulation causes stability issues in the future then we can look at regulating stock exchanges again. |
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Voting
| Vote | Seats | ||
| yes |
Total Seats: 266 | ||
| no |
Total Seats: 123 | ||
| abstain |
Total Seats: 0 |
| Random fact: "Kubrk" is a Jelbic word that has the colloquial meaning "old man" or "geezer". |
| Random quote: "Let's not forget that we belong to history, that history that men and women who fought before did, that history that men and women who are fighting now will do." - Tera Pisthis, former Selucian politician |