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Taiwan announces budget surplus for 7th straight year
Taipei’s Executive Yuan Spokesperson, Lin Tze-luen, announced a budget surplus for the 2023 fiscal year, attributing the achievement to the combined efforts of civil society and the government. The surplus will be allocated responsibly to maintain fiscal discipline, primarily focusing on debt reduction and infrastructure investment. Taiwan’s economy has experienced consistent growth, resulting in a budget surplus for seven consecutive years. In 2022, the surplus reached an impressive NT$500 billion, leading to a proposed special budget of NT$380 billion. This special budget aims to enhance economic and social resilience, with provisions such as a cash payment of NT$6,000 per citizen, support for labor and health insurance programs, and assistance for Taiwan Power Company. Additionally, the special budget includes programs to aid residential loan holders from the middle class and below. Lin emphasized the government’s commitment to considering public opinion and promoting national affairs to facilitate Taiwan’s sustainable development.
2024/01/25 16:34
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Surplus tax revenue in Taiwan opens debate on spending
Taiwan’s government confirms budget surplus, prioritizes debt repayment and infrastructure investments. Cabinet spokesman Lin Tze-luen expresses gratitude for joint efforts leading to economic growth. Taiwan’s annual tax revenue exceeds target, reaching NT$367.1 billion in fiscal year 2023, marking the third-highest record. Speculation arises on possible cash rebate as government distributed NT$6,000 to citizens in 2022 surplus. Lin Tze-luen declares government will consider public opinion on surplus utilization. Surplus will be applied with fiscal discipline, focusing on debt repayment and infrastructure investments. Efforts will be made to meet national and individual needs for sustainable development.
2024/01/25 15:15
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Hou Yu-ih lists DPP’s ’top ten’ policy failures in 8 years
The Kuomintang (KMT) presidential candidate, Hou Yu-ih, listed the ten major policy failures of the ruling Democratic Progressive Party (DPP) during a livestream presidential debate. These failures include ineffective energy policies, food safety violations, deteriorated public security, debt burdening future generations, critical issues in people’s livelihoods, housing injustice, rising cross-strait military threats, plummeting wages, skyrocketing house prices, and ineffective pandemic responses. Hou elaborated on specific examples such as solar power corruption, tainted food black market dealings, overspending on "forward-looking" infrastructures, a lack of electricity and water, regulatory failure in the National Communications Commission (NCC), failed social housing policies, the threatening potential of military conflict, income inequality at a ten-year high, and around 20,000 deaths during the COVID-19 pandemic. Hou expressed regret over his opponent, DPP presidential candidate Lai Ching-te’s campaign methods, accusing him of slander and displaying incompetence and unscrupulousness. Hou confirmed his opposition to Taiwanese independence while claiming that Lai advocated for it. He also criticized former Taipei Mayor and current Taiwan People’s Party (TPP) presidential candidate Ko Wen-je for not responding to this issue. Hou emphasized his lifelong pledge to remain loyal to the Republic of China’s flag and safeguard Taiwan’s democratic freedom.
2023/12/30 15:47
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Control Yuan exposes truth of Taiwan’s missing migrants
The Control Yuan revealed that Taiwan has approximately 82,000 missing migrant workers, a result of low wages and labor abuse. Out of the 740,000 migrant workers in Taiwan, over 200,000 have gone missing in the last decade. Contrary to public perception, these missing workers arrived in Taiwan seeking employment opportunities but chose to disappear due to mistreatment and excessive control by their employers. A new book highlights 33 documented cases of migrant workers facing improper treatment, including threats from debt collectors and spouses remarrying due to their prolonged absence. Control Yuan members involved in the investigation emphasized the systemic issues underlying these personal struggles and questioned the government and society’s understanding of the situation. They hope the book will resonate with all sectors and prompt the government to reform the current system, protecting the rights of foreign workers and ending their suffering.
2023/12/11 20:25
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Physician warns of prolonged immunity debt in Taiwan
Taiwan has been facing a persistent flu season since the beginning of the year, with three concurrent viruses spreading. Physician Huang Li-min from National Taiwan University Hospital warned of the severity of the flu outbreak and projected a potential two-year ’immunity debt’. Huang also highlighted the heightened risk of a Mycoplasma outbreak in Taiwan, urging the public to practice preventative measures such as vaccinations and adherence to public health guidelines. The Centers for Disease Control in Taiwan has implemented targeted surveillance and testing at international airports, leading to the detection of various viruses, including influenza, COVID-19, and adenoviruses. The World Health Organization is monitoring the Mycoplasma situation in China, urging vigilance despite a decline in the pandemic.
2023/12/02 16:41
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Finance minister aims to prioritize public debt repayment
The Taiwanese government plans to prioritize repaying public debt by using tax revenue that exceeds budget projections, according to Finance Minister Chuang Tsui-yun. The total budget for debt repayment in 2023, amounting to NT$111 billion, was fully executed by June, with an additional NT$15 billion paid in November. Chuang emphasized that if there is a surplus in the year-end financial outcome, the nation’s resources should be allocated for optimal use. The surplus in tax revenue will be apportioned first to debt repayment in accordance with the regulations of the Public Debt Act. Tax revenue for the first ten months of the year reached NT$3.0223 trillion, setting a record high for the same period compared to previous years, with a 6.9% increase. It is expected that full-year tax revenue will surpass budget estimates by NT$300 billion to NT$370 billion. The opposition party has called for a redistribution of the tax benefits back to the citizens.
2023/11/22 15:11