Chinese Nationalist Party (KMT) presidential candidate Eric Chu (朱立倫) yesterday told business leaders that he plans to raise the minimum wage, give families tax credits for births and provide five-year interest-free student loans.
Chu made the remarks during a conference with the nation’s six major manufacturers’ associations, including the Chinese National Federation of Industries and the Taiwan Electrical and Electronic Manufacturers’ Association.
Yesterday’s meeting was the last forum arranged by the industrial groups to discuss relations with China and economic policies with each of the three presidential candidates.
Chu said the economy must embrace “inclusive growth,” which means moving from profit maximization to generating wealth for all social groups, and creating “a high quantity of high quality jobs” for young people.
“Instead of raising taxes, I will broaden the tax base,” he said, adding that it is “unfair” that only 38 percent of national income is taxed, while 62 percent is exempt.
“Broadening the tax base will afford more tax credits and benefits for the middle class, small and medium businesses, and middle and low income families, such as tax credits for births, interest-free student loans for a period of five years before employment and tax credits for medium and small businesses to raise wages,” he said.
Chu also proposed “a wealth tax” on “the 1 percent at the top of the pyramid,” but also “incentives,” such as “exemptions on corporate taxes” to encourage capital investment to return.
He cautioned that such exemptions would not apply to speculative practices, including real-estate manipulation, but rather “investments that create opportunities for employment.”
The Central Weather Administration (CWA) today issued a sea warning for Typhoon Fung-wong effective from 5:30pm, while local governments canceled school and work for tomorrow. A land warning is expected to be issued tomorrow morning before it is expected to make landfall on Wednesday, the agency said. Taoyuan, and well as Yilan, Hualien and Penghu counties canceled work and school for tomorrow, as well as mountainous district of Taipei and New Taipei City. For updated information on closures, please visit the Directorate-General of Personnel Administration Web site. As of 5pm today, Fung-wong was about 490km south-southwest of Oluanpi (鵝鑾鼻), Taiwan's southernmost point.
A magnitude 5.3 earthquake struck Kaohsiung at 1pm today, the Central Weather Administration said. The epicenter was in Jiasian District (甲仙), 72.1km north-northeast of Kaohsiung City Hall, at a depth of 7.8km, agency data showed. There were no immediate reports of damage. The earthquake's intensity, which gauges the actual effects of a temblor, was highest in Kaohsiung and Tainan, where it measured a 4 on Taiwan's seven-tier intensity scale. It also measured a 3 in parts of Chiayi City, as well as Pingtung, Yunlin and Hualien counties, data showed.
Nearly 5 million people have signed up to receive the government’s NT$10,000 (US$322) universal cash handout since registration opened on Wednesday last week, with deposits expected to begin tomorrow, the Ministry of Finance said yesterday. After a staggered sign-up last week — based on the final digit of the applicant’s national ID or Alien Resident Certificate number — online registration is open to all eligible Taiwanese nationals, foreign permanent residents and spouses of Taiwanese nationals. Banks are expected to start issuing deposits from 6pm today, the ministry said. Those who completed registration by yesterday are expected to receive their NT$10,000 tomorrow, National Treasury
Taiwan next year plans to launch its first nationwide census on elderly people living independently to identify the estimated 700,000 seniors to strengthen community-based healthcare and long-term care services, the Ministry of Health and Welfare (MOHW) said yesterday. Minister of Health and Welfare Shih Chung-liang (石崇良) said on the sidelines of a healthcare seminar that the nation’s rapidly aging population and declining birthrate have made the issue of elderly people living alone increasingly pressing. The survey, to be jointly conducted by the MOHW and the Ministry of the Interior, aims to establish baseline data and better allocate care resources, he
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