The Executive Yuan today passed amendments to the special act, raising the package’s ceiling to NT$590 billion (US$19.69 billion), with a nationwide cash handout of NT$10,000 expected to begin issuance within one month of promulgation and be completed within seven months.
The legislature on July 11 passed the third reading of the Special Act for Strengthening Economic, Social and National Security Resilience in Response to International Circumstances (因應國際情勢強化經濟社會及國土安全韌性特別條例), which was proposed to counter the effects of reciprocal tariffs imposed by US President Donald Trump.
Photo: Taipei Times
The Chinese Nationalist Party (KMT) proposed a NT$10,000 cash handout, which raised the package’s ceiling from NT$410 billion to NT$545 billion.
Apart from the NT$235-billion budget proposed for the cash handout, the package also includes NT$150 billion for whole-of-society defense resilience, NT$93 billion for industry and employment support and NT$67 billion for social support.
With the Executive Yuan’s proposed amendments to Article 3, 6 and 9 of the act, the package’s ceiling would be raised to NT$590 billion.
An initial NT$570-billion special budget would be allocated in the first stage, with an additional NT$20 billion to be kept flexible based on industry needs, it said.
It originally required cash handouts to be delivered by Oct. 31, which would initiate issuance within one month of promulgation and be completed within seven months and would not involve means testing under the Cabinet’s amendments.
The public would require more than six months to claim the handouts based on the collection period for universal NT$6,000 cash handouts in 2023.
There would also be an additional allocation to cover the operational costs involved in issuing the cash handouts.
The amendments also add allocations to the special budget to ensure a stable electricity supply for industries, after a proposed NT$100-billion subsidy to bail out Taiwan Power Co (Taipower) was axed, plus funds to strengthen support systems and care services for disadvantaged groups.
The exact funds are yet to be decided.
Premier Cho Jung-tai (卓榮泰) said today that the amendments are necessary as US-Taiwan tariff negotiations remain ongoing, Executive Yuan spokesperson Michelle Lee (李慧芝) said at a media conference this morning.
He added that ministries should strengthen communication to expedite completion of the amendment process, she said.
Additional reporting by CNA
Aftershocks from a magnitude 6.2 earthquake that struck off Yilan County at 3:45pm yesterday could reach a magnitude of 5 to 5.5, the Central Weather Administration (CWA) said. Seismological Center technical officer Chiu Chun-ta (邱俊達) told a news conference that the epicenter of the temblor was more than 100km from Taiwan. Although predicted to measure between magnitude 5 and 5.5, the aftershocks would reach an intensity of 1 on Taiwan’s 7-tier scale, which gauges the actual effect of an earthquake, he said. The earthquake lasted longer in Taipei because the city is in a basin, he said. The quake’s epicenter was about 128.9km east-southeast
GENSLER SURVEY: ‘Economic infrastructure is not enough. A city needs to inspire pride, offer moments of joy and foster a sense of belonging,’ the company said Taipei was named the city with the “highest staying power” in the world by US-based design and architecture firm Gensler. The Taiwanese capital earned the top spot among 65 cities across six continents with 64 percent of Taipei respondents in a survey of 33,000 people saying they wanted to stay in the city. Rounding out the top five were Vietnam’s Ho Chi Minh City (61 percent), Singapore (59 percent), Sydney (58 percent) and Berlin (51 percent). Sixth to 10th place went to Monterrey, Mexico; Munich, Germany; Sao Paulo, Brazil; Vancouver; and Seoul. Cities in the US were ranked separately, with Minneapolis first at
The Japan-Taiwan Exchange Association has cautioned Japanese travelers to be vigilant against pickpockets at several popular tourist spots in Taiwan, including Taipei’s night markets, the Yongkang Street area, Zhongshan MRT Station, and Jiufen (九份) in New Taipei City. The advisory, titled “Recent Development of Concerns,” was posted on the association’s Web site under its safety and emergency report section. It urges travelers to keep backpacks fully zipped and carried in front, with valuables placed at the bottom of the bag. Visitors are advised to be especially mindful of their belongings when taking photos or speaking on the phone, avoid storing wallets and
The New Taipei City Government today warned about the often-overlooked dangers of playing in water, and recommended safe swimming destinations to cool off from the summer heat. The following locations in the city as safe and fun for those looking to enjoy the water: Chienshuiwan (淺水灣), Baishawan (白沙灣), Jhongjiao Bay (中角灣), Fulong Beach Resort (福隆海水浴場) and Sansia District’s (三峽) Dabao River (大豹溪), New Taipei City Tourism and Travel Department Director-General Yang Tsung-min (楊宗珉) said. Outdoor bodies of water have variables outside of human control, such as changing currents, differing elevations and environmental hazards, all of which can lead to accidents, Yang said. Sudden
RSS