The Executive Yuan on Thursday approved a special bill drafted by the National Development Council to boost economic and social resilience and share the proceeds of growth in the post-pandemic era. The act will help Taiwan to adapt to changes in the global economy and comprehensively strengthen the nation's economic and societal resilience and adaptability, while also ensuring that the fruits of economic growth are shared with the entire population. The proposed special bill will now be submitted to the Legislative Yuan for deliberation.
Premier Su Tseng-chang said that the nation has been affected by multiple exogenous shocks in recent years, including the U.S.-China trade war, a once-in-a-century global pandemic and the Russia-Ukraine war. However, thanks to the unity and industry of the Taiwanese people, and the preemptive actions of the government—including in relation to industrial policy and the creation of a favorable investment environment—Taiwan has been able to turn a crisis into an opportunity and chalk up record growth across the entire economy.
Premier Su said that as soon as the special bill passes its third and final reading in the Legislative Yuan, the Executive Yuan will promptly submit its special budget proposal for further deliberation by the Legislative Yuan. Once the budget proposal passes, related construction and administrative tasks can be initiated, including the NT$6,000 (US$197) tax rebate that will be distributed to every person. The premier directed relevant ministries and agencies to accordingly begin planning and preparation in advance.