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The 10 major measures to prop up the nation’s economy

Friday, Sep 12, 2008, Page 1

1.May 2008 to March 2009: Pensions for socially and economically disadvantaged people in terms of funds and a health insurance premium subsidy, as well as free lunches for disadvantaged students. NT$16.71 billion



2.2008 to 2012: Subsidies for the purchase of energy-saving household appliances, such as LED light bulbs, solar heat collectors and solar water heaters, as well as to encourage drivers to replace petroleum-driven vehicles with vehicles powered by liquefied petroleum gas (LPG) or rechargeable electric batteries. NT$11.117 billion



3.Jan. 2008 to Dec. 2008: Provide funding to enterprises that can provide temporary job opportunities, hire the long-term unemployed or provide training for their employees. NT$483 million



4.Jan. 2008 to Sept. 2010: To raise the government’s preferential mortgage interest subsidy rate from 0.125 percent to 0.7 percent and to expand the quota allocation of loans to help young people buy their own homes and to provide the young and disadvantaged with a rent allowance. NT$4.45 billion



5.Aug. 2008 to Dec. 2008: To facilitate the construction of state infrastructure projects and to press local governments to speed up construction projects covered by a NT$58.3 billion budget designed to expand domestic demand. NT$58.3 billion

6.Jan. 2008 to Dec. 2010: Manufacturing, traditional industries and related technical industries to be granted a five-year tax exemption from enterprise income tax on domestic investments between last month and the end of next year. NT$37.62 billion



7.Six months from approval: To request the legislature review the Securities Transaction Tax Act (證券交易稅條例) and cut the 0.3 percent tax rate by half for six months to boost the stock market. Expecting to start in Oct: To open the capital markets to Chinese qualified domestic institutional investors (QDII) that would see an inflow of a maximum of US$1.125 billion in Chinese capital, planned to begin next month. NT$30 billion



8.2008 to Dec. 2011: To raise the percentage of the guaranty the government offers to small and medium-sized enterprises to facilitate bank loans and to implement a microfinance loan program to assist the middle-aged and women to start small businesses. NT$20.67 billion



9.Aug. 2008 to Dec. 2012: To help enterprises to explore newly developing markets in the Middle East, Brazil, Russia and China. NT$1.5 billion



10.To advance tax reform, including raising standard deductions and special deductions on income, disability and school tuition fees, as well as discussing reductions in enterprise income tax, inheritance tax and gift tax.

Total amount: NT$180.9 billion
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