A new wage subsidy program worth about NT$1.35 billion (US$43.24 million) to mitigate the financial burden faced by local enterprises following a 4.56 percent annual rise in the minimum wage is to be launched, the Ministry of Labor and the Ministry of Economic Affairs said in a statement yesterday.
The program is an extension of the payroll subsidy scheme, but has a lower threshold for eligibility, the ministries said.
Local companies that report an annual decline in revenue of 10 percent or more due to the COVID-19 pandemic would be eligible for payroll subsidies, down from a 20 percent threshold, they said.
Photo: Taipei Times file photo
The new program is to come into effect in January, they said.
As some industries have not yet recovered from the effects of the three-year-long pandemic, the program aims to help them navigate hardships and also aims to ensure the stability of the nation’s labor market, the ministries said.
The program would benefit about 180,000 full-time workers and 60,000 part-time workers, the statement said.
The government would offer subsidies of NT$920 per month for full-time workers whose monthly pay is less than the new minimum wage, down from NT$1,000 per worker, it said.
Local businesses can also apply for a subsidy of NT$560 a month for part-time workers, it said.
The payments would last for six months at most, it added.
The labor ministry in September increased the monthly minimum wage to NT$26,400 from NT$25,250, while the minimum hourly rate was lifted to NT$176 from NT$169.
The government would use its Employment Stabilization Fund for the payroll program, it said.
Small and medium-sized businesses are expected to benefit the most from the program, as the nation’s listed firms have reported combined revenue growth of 11.75 percent to NT$2.89 trillion for the first three quarters of this year, it said, citing Taiwan Stock Exchange data.
INCREASED RISK: The Omicron BA.2.75 subvariant has higher immune evasive capacity, but the CECC is more concerned about newer subvariants such as XBB and BQ.1 With the peak season for infectious respiratory diseases coming to an end, the Central Epidemic Command Center (CECC) yesterday said that details of the next phase of lifting COVID-19 masking rules — removing the mask requirement in most indoor settings — are to be announced this week. Discussions on lifting other COVID-19 restrictions are also being held, including further easing border control measures, home isolation requirements and revising the definition for reporting cases, while also downgrading COVID-19 to a lower category of notifiable communicable disease, said Deputy Minister of Health and Welfare Victor Wang (王必勝), who heads the CECC. As the daily
GUT FEELING: In the leaked memo, US Air Force General Mike Minihan urged mobile command personnel to go to a firing range, shoot at a target and ‘aim for the head’ A four-star US Air Force general has warned of a conflict with China as early as 2025 — most likely over Taiwan — and urged his commanders to push their units to achieve maximum operational battle readiness this year. In an internal memorandum that first emerged on social media on Friday, and was later confirmed as genuine by the Pentagon, Air Mobility Command Commander General Mike Minihan said that the main goal should be to deter “and, if required, defeat” China. “I hope I am wrong. My gut tells me we will fight in 2025,” Minihan said. Minihan said that Taiwan’s presidential election
PEACE AND STABILITY: The two nations called for the peaceful resolution of cross-Taiwan Strait issues through dialogue without the threat or use of force or coercion The Ministry of Foreign Affairs yesterday thanked France and Australia for voicing their support for Taiwan, saying that peace across the Taiwan Strait is crucial to the stability and prosperity of international society. France and Australia on Monday pledged to deepen ties with Taiwan and reiterated their support for its participation in international organizations at this year’s Foreign and Defense Ministerial Consultations in Paris. The meeting between French Minister for Europe and Foreign Affairs Catherine Colonna, French Minister of the Armed Forces Sebastien Lecornu, Australian Minister for Foreign Affairs Penny Wong (黃英賢) and Australian Minister for Defence Richard Marles was the second
DEMOCRATIC SYSTEM: Czech president-elect Petr Pavel said his nation stands firmly on the side of democracy and would boost cooperation with Taipei in all aspects Czech president-elect Petr Pavel spoke by telephone with President Tsai Ing-wen (蔡英文) yesterday, a highly unusual move given the lack of formal ties and a diplomatic coup for Taipei. Tsai spoke with Pavel for 15 minutes in a harmonious atmosphere, Presidential Office spokeswoman Lin Yu-chan (林聿禪) said, adding that Minister of Foreign Affairs Joseph Wu (吳釗燮) was also present during the conversation. Lin quoted Pavel as telling Tsai that Taiwan is a trustworthy partner, adding that the Czech Republic stands firmly on the side of democracy and supports Taiwan in maintaining a lively democratic system free from authoritarian coercion. The Czech Republic would
RSS