The Executive Yuan yesterday unveiled its budget plans for the next fiscal year, in which the nation’s estimated expenditure and revenue both top NT$2 trillion (US$63.7 billion) for the first time, and defense spending is increased.
The biggest share of the budget was earmarked for social welfare, for which NT$524.5 billion (24.9 percent) was allocated, followed by education and science, which is estimated to cost NT$428.2 billion (20.4 percent), statistics released by the Directorate-General of Budget, Accounting and Statistics (DGBAS) showed.
With NT$343.5 billion, national defense received the third-largest share at 16.4 percent, compared with 16.3 percent for the current fiscal year. That marks a NT$18.8 billion, or 5.7 percent, rise from a year earlier, the statistics showed.
The increase consists of a hike of NT$9.7 billion in personnel costs, which are required to sustain the nation’s all-volunteer force; NT$7.8 billion in military equipment investment; and NT$1.3 billion in maintenance costs for aircraft, vessels and vehicles, the statistics showed.
The Ministry of National Defense has planned to invest NT$96 billion in military equipment, while the increase in personnel costs is mainly because the nation aims boost the number of military personnel from about 80 percent of the recruitment goal to 90 percent, DGBAS Minister Chu Tzer-ming (朱澤民) told a news conference at the Executive Yuan.
Meanwhile, subsidies to families with children aged two to five — which would total NT$1.54 billion — contribute to most of the increase in the social welfare budget, he said.
Notably, it is the first time in 22 years that the central government budget has matched its expected revenue (NT$2.1 trillion), which shows that the government is one that values accountability in politics and is disciplined in handling its finances, Premier Su Tseng-chang (蘇貞昌) said after a Cabinet meeting.
The government expects a net income of NT$39.2 billion in fees collected in the coming fiscal year, which would mainly be made up of licensing fees collected from companies that have applied to offer 5G services, the DGBAS said.
SOURED RELATIONS: Program director Jennifer Liu said the move to Taipei was due to a ‘perceived lack of friendliness’ from Beijing Language and Culture University Harvard University is to relocate its summer Mandarin program from Beijing to National Taiwan University (NTU) starting next year, a student publication reported on Thursday last week. Run at Beijing Language and Culture University (BLCU) since 2004, the Harvard Beijing Academy is to become the Harvard Taipei Academy once it moves to Taiwan, Crimson magazine reported. Program director Jennifer Liu (劉力嘉) attributed the decision to a “perceived lack of friendliness” from the Chinese university, potentially due to shifting political winds. Liu told the magazine that BLCU in recent years had failed to provide a single dorm for the students or separate accommodation of
The Chinese Nationalist Party (KMT) caucus yesterday issued a rebuttal to former US secretary of state Condoleezza Rice, who said a fistfight in the Legislative Yuan might have been “provoked from the outside” to destabilize Taiwan. Rice made the comment in an online discussion about the AUKUS alliance of Australia, the UK and the US hosted by the Policy Exchange forum in London on Thursday. On mention of Taiwan, she was quoted by The Australian as predicting that Beijing would use paramilitary forces and acts of sabotage to destabilize the nation. “There was a fistfight in the Taiwanese parliament a few weeks ago
ADVANCING TECH: With revenue on target to reach US$15.4 billion, the Hsinchu-based chipmaker said it is looking to produce 3-nanometer chips later this year Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday announced plans to build a new plant in Japan next year to produce 22-nanometer and 28-nanometer chips in its latest effort to expand its global manufacturing footprint. The Japanese fab is to start operations in 2024, the world’s biggest contract chipmaker said, ending months of speculation. “We have received strong commitment to supporting this project from our customers and the Japanese government,” TSMC chief executive officer C.C. Wei (魏哲家) told a quarterly investors’ conference. “We believe the expansion of our global manufacturing footprint will enable us to better serve our customers’ needs and reach global talent,
KNOWN ISSUES: Fire safety issues were found in the 40-year-old building, which previously housed a theater and restaurants, in 2019, last year and May, an official said Forty-six people died and 41 were injured in a building fire that raged out of control for hours overnight in Kaohsiung, authorities said yesterday. Flames and smoke billowed from the lower floors of the 13-story Cheng Chung Cheng (城中城) building on Fubei Road in Yancheng District (鹽埕), as firefighters tried to douse the blaze from the street and aerial platforms. The death toll rose steadily through the day as rescue workers searched the combined commercial and residential building. By late afternoon, authorities said 32 bodies had been found, while a further 14 people who showed no signs of life were among 55