KMT legislative whip Lee Chuan-chiao (李全教) quoted a Ministry of Finance report as forecasting that tax revenues for this year will fall short of the original target by an estimated NT$110 billion.
"Against this backdrop, how can the Cabinet increase its revenue target for 2003 by NT$72 billion?" Lee asked.
"The Cabinet apparently has overestimated its possible revenues for the new year," he added.
PFP Legislator Chiu Yi (邱毅) said the government will have a deficit of NT$235 billion in terms of its 2003 budget plan, accounting for 14.7 percent of its projected expenditures.
He pointed out that the Cabinet plans to float state bonds to raise funds to make ends meet.
"But the outstanding bonds should not exceed 15 percent of the government's total budget because the government's financial woes would certainly be aggravated if its evidently overstated revenue targets fail to be realized," he said.
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