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Achieving a compassionate and resilient post-pandemic recovery


To respond to the challenges of the post-pandemic global economy in 2023, and to maintain Taiwan's economic momentum, the government has increased both general budget expenditure and the public infrastructure budget. In addition, the government introduced a special law and associated special budget to boost economic and social resilience and share the proceeds of growth in the post-pandemic era. The special budget makes full use of the 2022 central government budget surplus. Approximately NT$380 billion (US$11.7 billion) of surplus tax revenue is being used according to 10 policy directions, with the goal of strengthening the overall economy, bolstering social resilience and adaptability, and sharing the proceeds of growth with the public.

10 policy directions

Inject NT$100 billion (US$3.1 billion) into the state-run Taiwan Power Co. (Taipower) to offset its operating losses, and the nation's Labor Insurance and National Health Insurance funds.

Provide an NT$6,000 (US$184) one-off cash payment to every person.

Promote transformation and upgrade of industries and small and medium-sized enterprises (SMEs): Provide special loans and loan interest subsidies, assist manufacturing industries with transformation and upgrade, as well as facilities improvement, revitalize the development of shopping districts, characterful neighborhoods and traditional markets, and help SMEs to expand sales.

Alleviate housing costs: Provide a one-time NT$30,000 (US$921) payment to households that meet the twin criteria of a household income below a specified threshold and an approved owner-occupied housing loan below a certain threshold.

■ Widen public transport subsidies: Provide a range of discounted monthly commuter tickets for intra- and inter-district travel within metropolitan areas in northern, central and southern Taiwan. Additionally, roll out localized incentive packages tailored to the regional needs of other areas.

Improve care for vulnerable groups: In addition to existing subsidies, provide further monthly living allowances of NT$750 (US$23) per person to low income households and NT$500 (US$15) per person to lower-middle income households. Subsidize the augmentation of cold storage facilities at community food bank hot spots in order to increase the range of food items available to economically disadvantaged individuals and families.

Increase incentives to attract international tourists: Provide e-vouchers and rewards to promote travel to Taiwan by foreign independent travelers and tour groups. Stabilize the service capacity of the hotel industry by distributing subsidies to businesses for increasing the hiring of housekeepers and cleaners, providing direct subsidies to staff and incentivizing college and university students to work in the industry during the summer.

Strengthen agricultural infrastructure and care for farmers and fishermen: Facilitate the expanded provision of meals in rural areas, anti-food waste zones and affordable food zones; strengthen the resilience of rural water resource infrastructure, promote multipurpose fishing ports and improve agricultural roads and other rural infrastructure; guide the upgrade of poultry farms and poultry houses; incentivize fish farms to integrate green energy systems into their aquaculture operations; and promote the use of smart and sustainable net-zero equipment and facilities.

Lighten the financial burdens of student loan borrowers: Cover one year of tuition loan repayments (principal and interest) for disadvantaged students who have applied for a tuition loan during the course of their studies, graduates caring for a child aged 12 or below, and graduates with a monthly income of NT$40,000 (US$1,229) or less. Additionally, lower the student loan application and loan deferment (principal and interest) thresholds, and increase the number of times a loan borrower may apply for a loan deferment on the principal, or on the principal and interest.

Revitalize arts and cultural industries and stimulate related spending: Expand and regularize the Ministry of Culture's NT$1,200 (US$37) voucher program for young people to spend on arts and cultural activities and products; promote an initiative to revive physical bookstores and micro cultural and creative enterprises; facilitate tours of rural and remote areas by traditional opera troupes and other performance groups; embed cultural experiences into the education system; and strengthen artistic content and broaden arts appreciation for the public.

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