The government’s budget plan for fiscal 2022 includes paying off NT$9.6 billion (US$346 million) in debt, a 20-year high, Democratic Progressive Party (DPP) legislative caucus secretary-general Tsai Shih-ying (蔡適應) said yesterday.
The Cabinet on Aug. 26 approved the budget.
The government’s revenue is projected to total NT$1.88 trillion this year, a record, up 11.9 percent from last year, Tsai told a news conference in Taipei, adding that the economy remains robust, despite challenges due to the COVID-19 pandemic.
Meanwhile, the government would pay off NT$96 billion in debt next year, or 5.1 percent of the total budget, the highest in the past two decades, he added.
“This shows that the DPP government is not all about spending,” he said, asking lawmakers across party lines to give the Cabinet credit for its performance.
Tsai lauded the government’s technology budget, which is to reach NT$126.4 billion next year, up 12.4 percent from this year, saying that this would be the fourth straight year of increase.
Meanwhile, the Cabinet would allocate NT$81 billion for programs to boost the nation’s birthrate, up 50.5 percent from this year, he said.
These would include financial support for parents and incentives for families to have more children, he said.
Contribution to the budgets of local governments would be NT$196.5 billion, up 4 percent from this year, he said.
“There are other political parties in power at the city and county level, but we do not consider this when it comes to spending and financial support,” he added.
“In next year’s fiscal budget, we raised spending on local governments. This highlights the cooperation between the ruling party and local governments to promote progress for the good of the nation and all Taiwanese,” Tsai said.
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