Opposition New Party Legislator Lai Shyh-bao (賴士葆) said yesterday the government should revamp its budget for fiscal 2002 to provide for recommendations reached at the recent Economic Development Advisory Conference (EDAC).
Lai said that next year's budget plan, sent by the Cabinet to the Legislative Yuan last week for scrutiny, fails to reflect Taiwan's economic reality and does not set aside funds for implementing proposals forwarded by consensus at the Aug. 24 to 26 conference.
For instance, Lai said the budget bill estimates the government's tax revenues at NT$950 billion (US$27.54 billion) based on a projected economic growth rate of 4.16 percent for the coming year.
"In the fiscal 2001 budget bill, the government estimated the economic growth rate at 6.18 percent. However, this year's GDP is very likely to register 0.37 percent negative growth. Against this backdrop, how could our GDP shoot up so quickly next year?" Lai said.
According to Lai, if Taiwan's GDP grows only 1 percent next year, the government should lower its projected annual tax revenues by more than 1 percent.
Moreover, Lai said, since the Cabinet has decided to adopt a proposal reached at the conference to halve the land value increment tax for two years, the government's overall tax revenues would also be affected. The tax-cut plan is now pending legislative approval.
As the government's plans to privatize state-run enterprises have not proceeded as smoothly as expected in the past couple of years, Lai said, the Cabinet's estimate of revenues from sales of its stakes in those companies may be too optimistic.
In his view, Lai said, the Cabinet has overestimated its revenues for the next financial year by at least NT$20 billion.
On the expenditure side, Lai said, the budget plan didn't earmark funds for implementing some proposals unanimously agreed upon by the 120 conference members, including paving the way for opening direct links across the Taiwan Strait and setting up a special task force to craft measures for easing the "no haste, be patient," policy on China-bound investment.
Lai urged the Cabinet to finalize a detailed plan for implementing major proposals recommended by the conference as soon as possible to enable the Directorate General of Budget, Accounting and Statistics to revise the budget bill accordingly. Otherwise, he said, the legislature may decline to screen the bills in its coming session, which will begin in the middle of this month.
Commenting on the recent controversy over proposed lavish spending on Vice President Annette Lu's (
In response, the DPP's legislative caucus leader Tsai Huang-lan (
"There are other alternatives to earmark funds for the [conference's] conclusions, and it's not necessary to reflect this on the Cabinet's budget bill," Tsai said.
RETHINK? The defense ministry and Navy Command Headquarters could take over the indigenous submarine project and change its production timeline, a source said Admiral Huang Shu-kuang’s (黃曙光) resignation as head of the Indigenous Submarine Program and as a member of the National Security Council could affect the production of submarines, a source said yesterday. Huang in a statement last night said he had decided to resign due to national security concerns while expressing the hope that it would put a stop to political wrangling that only undermines the advancement of the nation’s defense capabilities. Taiwan People’s Party Legislator Vivian Huang (黃珊珊) yesterday said that the admiral, her older brother, felt it was time for him to step down and that he had completed what he
Taiwan has experienced its most significant improvement in the QS World University Rankings by Subject, data provided on Sunday by international higher education analyst Quacquarelli Symonds (QS) showed. Compared with last year’s edition of the rankings, which measure academic excellence and influence, Taiwanese universities made great improvements in the H Index metric, which evaluates research productivity and its impact, with a notable 30 percent increase overall, QS said. Taiwanese universities also made notable progress in the Citations per Paper metric, which measures the impact of research, achieving a 13 percent increase. Taiwanese universities gained 10 percent in Academic Reputation, but declined 18 percent
UNDER DISCUSSION: The combatant command would integrate fast attack boat and anti-ship missile groups to defend waters closest to the coastline, a source said The military could establish a new combatant command as early as 2026, which would be tasked with defending Taiwan’s territorial waters 24 nautical miles (44.4km) from the nation’s coastline, a source familiar with the matter said yesterday. The new command, which would fall under the Naval Command Headquarters, would be led by a vice admiral and integrate existing fast attack boat and anti-ship missile groups, along with the Naval Maritime Surveillance and Reconnaissance Command, said the source, who asked to remain anonymous. It could be launched by 2026, but details are being discussed and no final timetable has been announced, the source
SHOT IN THE ARM: The new system can be integrated with Avenger and Stinger missiles to bolster regional air defense capabilities, a defense ministry report said Domestically developed Land Sword II (陸射劍二) missiles were successfully launched and hit target drones during a live-fire exercise at the Jiupeng Military Base in Pingtung County yesterday. The missiles, developed by the Chungshan Institute of Science and Technology (CSIST), were originally scheduled to launch on Tuesday last week, after the Tomb Sweeping Day holiday long weekend, but were postponed to yesterday due to weather conditions. Local residents and military enthusiasts gathered outside the base to watch the missile tests, with the first one launching at 9:10am. The Land Sword II system, which is derived from the Sky Sword II (天劍二) series, was turned