Premier Yu Shyi-kun yesterday asked lawmakers to swiftly approve measures to stimulate the economy which he said has already been through the worst and will register a robust performance if the executive and legislative branches join forces to pursue the end.
Yu made the call while briefing the lawmaking body on his policy goals in keeping with a custom to open a new legislative session.
Topping the executive agenda are eight economic stimulus packages, including proposals to expand public construction and regulate transfer of high-tech knowledge across the Taiwan Strait, and three political reform bills.
PHOTO: GEORGE TSORNG, TAIPEI TIMES
"Economic prosperity is critical to Taiwan's continued existence, which may not be achieved without a sound financial system," Yu said, underscoring the importance of the 11 initiatives.
The Cabinet has requested NT$50 billion in extra spending to fund a public construction program unveiled last December to distend domestic demand and battle unemployment.
The measure is expected to prop up the economy by 0.38 percent and generate 40,000 job opportunities by the end of this year when it and the NT$200 billion job-creation program are due to expire.
The government also has proposed increasing a financial restructuring fund to NT$1.05 trillion to help banks write off their non-performing loans.
This proposal and legislation to create a financial supervision board have languished in the legislature as the caucuses disagree over their merits.
"To help the country stay competitive, the legislature must not stave off those bills any longer," Yu said. "As is widely known, an excess number of financial institutions has rendered the sector unprofitable. The situation shows the need for prompt reform."
The premier said he expected an economic growth of 3.5 percent this year, roughly the same as last year when the economy stopped its downward trend and started to recover.
"Studies at home and abroad show the worst is over," Yu said, noting that export orders witnessed a two-digit upswing in the last nine months and unemployment has eased off.
"United, we can put up a stronger economic performance," Yu said. "Let's have confidence and put a stop to the defeatist rhetoric, lest it become a self-fulfilling prophecy."
Alluding to the KMT-PFP plan to field a joint ticket for next year's presidential election, the premier said he doubted any individuals can work miracles in meeting challenges facing the country.
"It seems it is fashionable to say who should run in the next presidential polls," he said. "In my view, unselfish collaboration between the Cabinet and the legislature emerges as the best way to promote welfare for the people."
The Cabinet has also listed as priorities its bills to regulate political parties and their assets, and to set up an anti-corruption administration under the Ministry of Justice.
All three proposals failed to pass in the last legislative session as opposition lawmakers voiced concern such measures might be abused by the DPP government to attack political foes.
Hong Kong-based American singer-songwriter Khalil Fong (方大同) has passed away at the age of 41, Fong’s record label confirmed yesterday. “With unwavering optimism in the face of a relentless illness for five years, Khalil Fong gently and gracefully bid farewell to this world on the morning of February 21, 2025, stepping into the next realm of existence to carry forward his purpose and dreams,” Fu Music wrote on the company’s official Facebook page. “The music and graphic novels he gifted to the world remain an eternal testament to his luminous spirit, a timeless treasure for generations to come,” it said. Although Fong’s
China’s military buildup in the southern portion of the first island chain poses a serious threat to Taiwan’s liquefied natural gas (LNG) supply, a defense analyst warned. Writing in a bulletin on the National Defense and Security Research’s Web site on Thursday, Huang Tsung-ting (黃宗鼎) said that China might choke off Taiwan’s energy supply without it. Beginning last year, China entrenched its position in the southern region of the first island chain, often with Russia’s active support, he said. In May of the same year, a Chinese People’s Liberation Army Navy (PLAN) force consisting of a Type 054A destroyer, Type 055 destroyer,
Actor Darren Wang (王大陸) was questioned by prosecutors for allegedly orchestrating an attack on a taxi driver after he was allegedly driven on a longer than necessary route in a car he disliked. The questioning at the New Taipei City District Prosecutors’ Office was ongoing as of press time last night. Police have recommended charges of attempted murder. The legally embattled actor — known for his role in the coming-of-age film Our Times (我的少女時代) — is under a separate investigation for allegedly using fake medical documents to evade mandatory military service. According to local media reports, police said Wang earlier last year ordered a
Taiwan is planning to expand the use of artificial intelligence (AI)-based X-ray imaging to customs clearance points over the next four years to curb the smuggling of contraband, a Customs Administration official said. The official on condition of anonymity said the plan would cover meat products, e-cigarettes and heated tobacco products, large bundles of banknotes and certain agricultural produce. Taiwan began using AI image recognition systems in July 2021. This year, generative AI — a subset of AI which uses generative models to produce data — would be used to train AI models to produce realistic X-ray images of contraband, the official
RSS