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Government plans subsidies for housing loans, student loans, cultural industries


At the Cabinet's weekly meeting Thursday, Premier Chen Chien-jen received briefings from the Ministry of the Interior, Ministry of Education and Ministry of Culture regarding a special bill to boost economic and social resilience and share the proceeds of growth in the post-pandemic era. The government is providing the people with support and assistance in the wake of the pandemic, the premier said. As such, the special post-pandemic recovery bill proposes subsidy programs for housing loans and student loans to alleviate living costs and strengthen care for disadvantaged students, as well as cultural revitalization projects aimed at swiftly restoring the vitality of Taiwan's arts and cultural industries.

The government is utilizing the special post-pandemic recovery bill to address the impacts and pressures on middle-class households caused by rising interest rates and the last three-plus years of the pandemic, Premier Chen said. The special bill's housing loan subsidy scheme will provide a one-time NT$30,000 (US$990) payment to households that meet the criteria of both a household income below a certain threshold and an approved personal housing loan below a certain threshold. It is estimated that this will benefit about 550,000 mortgage borrowers.

In addition, to undergird the care of disadvantaged students, in particular those who suffered more difficulties during the pandemic, the special budget provides for a tuition loan subsidy scheme that is anticipated to reduce the financial burdens of nearly 550,000 students.

To promote the resumption of arts and cultural activities, the government has proposed a corresponding revitalization plan. The plan includes expanding the Ministry of Culture's NT$1,200 (US$40) voucher program for young people to spend on arts and cultural activities and products, promoting an initiative to revive physical bookstores and micro cultural and creative enterprises, and promoting tours of rural and remote areas by traditional Taiwanese opera troupes and other performance groups. The premier said he hopes these measures will allow Taiwan to rapidly restore arts and cultural activities to pre-pandemic levels and ensure that these industries enjoy a thriving and prosperous future.

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