The Cabinet yesterday approved next year's proposed annual budget, with spending projected to reach NT$1.62 trillion (US$47.7 billion) and income forecast at just NT$1.38 trillion. The budget will be passed on to the Legislative Yuan for review and final approval when the legislature convenes its next session next month.
According to Cabinet Spokesman Chen Chi-mai (陳其邁), the projected expenditure represents a 2.1 percent increase compared with this year, while annual income is expected to grow by 3.3 percent.
The NT$235.5 billion shortfall and NT$60 billion in debt repayment would be covered by issuing NT$255 billion in public bonds, as well as a surplus of NT$31.1 billion from the previous fiscal year.
Of the NT$1.62 trillion in projected expenditure, NT$316 billion, or 19.5 percent of the total, will be earmarked for educational, cultural and scientific purposes.
This is followed by 17.8 percent, or NT$289.4 billion, for social welfare; 15.8 percent, or NT$256.9 billion, for economic development; and 15.1 percent, or NT$245.3 billion, for national defense.
Of the NT$316 billion budget earmarked for educational, cultural and scientific purposes, NT$77.2 billion would be set aside for scientific development projects and NT$425.6 billion for education.
A total of NT$25 billion would be used to compensate for agricultural losses resulting from the nation's entry into the WTO.
This amount, which would be exempted from the money the government could borrow, would also be covered by issuing public bonds.
The projected total income of NT$1.38 billion would come from the sale of stakes in state-run enterprises (NT$89.4 billion), government investment (NT$222.3 billion), fines and property income (NT$126.6 billion) and taxes (NT$889.5 billion).
Meanwhile, the Cabinet is scheduled to approve an additional budget request of NT$15.5 billion during tomorrow's weekly closed-door Cabinet meeting.
This amount is earmarked for dredging and reconstruction projects stemming from the flooding caused by Tropical Storm Mindulle, which killed 29 people and left 12 missing.
If passed by the legislature, the additional budget is required by law to be used up by the end of the year. The Cabinet had originally planned to request NT$17.2 billion (US$511 million).
While the Cabinet hopes the legislature will discuss the additional budget request during its extraordinary legislative session, it planned to send the annual budget proposal to the legislature for further review and final approval by the end of the month, when the lawmaking body is scheduled to reconvene.
The additional budget request was approved during the closed-door meeting where Premier Yu Shyi-kun heard briefings presented by ministers without portfolio Lin Sheng-feng (
Lin and Kuo chair task forces that have been established to handle investigations and reconstruction projects following the devastating flooding caused by Mindulle.
In addition to ordering that these two task forces be merged, Yu requested that the amalgamated body present the draft bill on land restoration and conservation (
The special bill would ban land development, road construction or repair, farming or residence in certain areas.
In addition to enacting a special law to restrict land development in mountainous, coastal and flood-prone areas, the Cabinet is mapping out incentives to residents of geologically sensitive areas to encourage them to relocate or sell their real estate to the government.
Taiwan is to receive the first batch of Lockheed Martin F-16 Block 70 jets from the US late this month, a defense official said yesterday, after a year-long delay due to a logjam in US arms deliveries. Completing the NT$247.2 billion (US$7.69 billion) arms deal for 66 jets would make Taiwan the third nation in the world to receive factory-fresh advanced fighter jets of the same make and model, following Bahrain and Slovakia, the official said on condition of anonymity. F-16 Block 70/72 are newly manufactured F-16 jets built by Lockheed Martin to the standards of the F-16V upgrade package. Republic of China
Taiwan-Japan Travel Passes are available for use on public transit networks in the two countries, Taoyuan Metro Corp said yesterday, adding that discounts of up to 7 percent are available. Taoyuan Metro, the Taipei MRT and Japan’s Keisei Electric Railway teamed up to develop the pass. Taoyuan Metro operates the Taiwan Taoyuan International Airport MRT Line, while Keisei Electric Railway offers express services between Tokyo’s Narita Airport, and the Keisei Ueno and Nippori stations in the Japanese capital, as well as between Narita and Haneda airports. The basic package comprises one one-way ticket on the Taoyuan MRT Line and one Skyliner ticket on
Many Japanese couples are coming to Taiwan to obtain donated sperm or eggs for fertility treatment due to conservatism in their home country, Taiwan’s high standards and low costs, doctors said. One in every six couples in Japan is receiving infertility treatment, Japanese Ministry of Health, Labour and Welfare data show. About 70,000 children are born in Japan every year through in vitro fertilization (IVF), or about one in every 11 children born. Few people accept donated reproductive cells in Japan due to a lack of clear regulations, leaving treatment in a “gray zone,” Taichung Nuwa Fertility Center medical director Wang Huai-ling (王懷麟)
A new tropical storm formed late yesterday near Guam and is to approach closest to Taiwan on Thursday, the Central Weather Administration (CWA) said. Tropical Storm Pulasan became the 14th named storm of the year at 9:25pm yesterday, the agency said. As of 8am today, it was near Guam traveling northwest at 21kph, it said. The storm’s structure is relatively loose and conditions for strengthening are limited, WeatherRisk analyst Wu Sheng-yu (吳聖宇) said on Facebook. Its path is likely to be similar to Typhoon Bebinca, which passed north of Taiwan over Japan’s Ryukyu Islands and made landfall in Shanghai this morning, he said. However, it
RSS