A group of lawyers and civic groups yesterday said that if the “cronyism in the finance sector and judiciary” that began under the Chinese Nationalist Party (KMT) persists, young people — who are facing the concentration of capital, impoverishment and a low birth rate — risk becoming a “crumbled generation.”
Lawyer Fan Jen-yu (樊仁裕) said that the finance sector has hired people from the former administration to be their “door gods.”
For example, Hsueh Hsiang-chuan (薛香川) has been the vice chairman of CTBC Financial Holding (中信金控) since resigning as Executive Yuan secretary-general during former president Ma Ying-jeou’s (馬英九) first term in 2009, former Mega Financial Holding Co chairman Mckinney Tsai (蔡友才), who resigned in April, became one of Cathay Financial Holding Co’s board of directors (until he resigned on Aug. 23), Catherine Lee (李紀珠), the chairperson of state-run Taiwan Financial Holdings until the end of last month, was formerly the president of Shin Kong Financial Holding Co, Fan said.
He also called on Tsai’s administration to hold former Mega Financial Holding Co chairman Shiu Kuang-si (徐光曦) — who resigned on Thursday — accountable for breaches of US money laundering rules rather than “keeping him at large because he is central bank Governor Perng Fai-nan’s (彭淮南) sister-in-law’s husband.”
The composition of the Committee of Illegal Party Asset Settlement, Tsai’s grand justice picks and the members of the Executive Yuan’s monitoring taskforce overlooking the Mega Bank incident are all in one way or another related to a particular law firm and the Judicial Reform Foundation, Fan said.
Northern Taiwan Society Chairman Chang Yeh-sen (張葉森) said that there have been a string of financial malpractice cases but the government has not demonstrated “resolve” in dealing with them.
National Taiwan University professor of law Chen Chih-lung (陳志龍) said economic crimes and serious corruption are rarely prosecuted, making Taiwan a “haven for economic crimes.”
Wang Yi-kai (王奕凱), who was an active participant in the Sunflower movement protests, said the economy has fallen into the hands of “crony capitalists... to the extent that, according to The Economist, Taiwan is even worse than China in this respect.”
“Taiwan is also relying far too much on an ‘insubstantial economy’ that puts too much emphasis on land speculation and financial exchange and is a breeding ground for political nepotism,” he said, calling on the government to support startups by providing information on the needs of the global economy and promoting value-added production.
The Ministry of Finance this afternoon announced the winning numbers for the March-April uniform invoice lottery. The winning number for the NT$10 million (US$318,060) special prize is 19531471, and the winning number for the NT$2 million grand prize is 85941329. Three numbers were drawn for the NT$200,000 first prize: 07225810, 20231230 and 83518781. Those with receipts matching the last seven digits of any of the first-prize numbers will win the NT$40,000 second prize, while those matching the last six digits will win the NT$10,000 third prize. Those whose receipts match the last five digits of the first-prize numbers can claim the NT$4,000 fourth prize,
SIX SUBSIDIES: The monthly allowance for older farmers is to increase to NT$10,000, and NT$5,000 is to be given to homemakers under the national pension system, Lai said The government is to implement major welfare policies for disadvantaged groups, including raising the monthly allowance for older farmers to NT$10,000 and providing homemakers with NT$5,000 per month, President William Lai (賴清德) said yesterday. Lai made the remarks during a visit to Wangling Temple in Chiayi County, saying that the planned increases were being introduced amid economic growth and an increase in tax revenue. Touting a policy, in which the government plans to provide a monthly allowance of NT$5,000 for every child under the age of 18 in a bid to address Taiwan’s low birthrate, Lai said that if received for the
STAY COOL: The HPA recommended that people stay hydrated, use air-conditioning or fans while indoors, wear loose-fitting clothes and walk in the shade while outdoors Employers must implement measures such as installing cooling equipment, and providing drinking water and rest breaks for outdoor workers starting from Monday next week, the Taipei Department of Labor said on Sunday. Employers who fail to comply could face fines of NT$30,000 to NT$300,000 under the Occupational Safety and Health Act (職業安全衛生法), the department said. Businesses in Taipei employing fewer than 100 workers, as well as registered self-employed workers with labor insurance coverage, could receive on-site assessments and guidance from occupational safety consultants to help them apply for central government subsidies to implement or improve heat-protection measures, it said. Under the Ministry of
ISOLATION: The outposts would serve as support and backup bases, forcing US forces to either face China head-on or reroute, increasing travel time and operational costs China’s outposts in the South China Sea could be used to delay and constrain foreign forces during a conflict in the Taiwan Strait, giving Beijing a critical window to carry out amphibious landing and blockade operations, a report said. The Chinese Communist Party’s (CCP) forward operating bases on islands and reclaimed features in the South China Sea could delay foreign forces long enough for the Chinese People’s Liberation Army (PLA) to secure a key 48-to-72-hour window in the Taiwan Strait, a report commissioned by the Mainland Affairs Council found. The report, conducted by the Institute for National Defense and Security Research, examined
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