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Taiwan premier ties future cash payments to economic outlook
Premier Chen Chien-jen addresses potential cash payments to the public in response to economic conditions for 2025 and 2026 during a Legislative Yuan hearing. Discussions highlight the government’s focus on National Health Insurance, labor insurance, and subsidies for Taiwan Power Company, with implications for Taiwan’s social policy and fiscal decisions in the future.2024/03/06 15:46 -
Taiwan’s social protection expenditure hits NT$2.53T in 2022
Taiwan’s Social Protection Expenditure (SPE) for 2022 has reached a new high of NT$2.5342 trillion, according to the Directorate-General of Budget, Accounting and Statistics (DGBAS). This represents a 4.9% growth rate and an increase of NT$118.1 billion compared to the previous year. The DGBAS attributes the significant growth to factors such as increased costs related to COVID-19 vaccine procurement and vaccination efforts, higher National Health Insurance payments, and increased funding for childcare allowances and educational subsidies. Social security spending in Taiwan aims to mitigate risks or burdens associated with aging, disabilities, survivors, sickness and healthcare, childbirth, family and children, unemployment, occupational injuries, and housing, following the standards of the International Labor Organization (ILO).2023/12/16 13:23