The Chinese Nationalist Party (KMT) would not oppose an NT$800 billion (US$25.4 billion) special military budget, provided the US issues Taiwan official letters of offer and acceptance (LOAs) for arms purchases, party Chairwoman Cheng Li-wun (鄭麗文) said yesterday.
Cheng made the remarks in an interview with online news outlet CNEWS, in which she called the Cabinet’s proposal of NT$1.25 trillion over eight years a “blank check.”
Confirmed LOAs would account for about US$11 billion, which the KMT would prioritize approving, she said.
Photo: Screen grab from CNEWS’ YouTube channel
An LOA is a binding document confirming that a foreign government agrees to buy military equipment under a regulated government program, and gives the US government the authority to contract US weapons firms to manufacture and acquire the systems.
Cheng said that as most of the Cabinet’s proposal lacked clarity on where the money would go or what it would be used for, the KMT could not endorse it, adding that the ruling Democratic Progressive Party (DPP) lacked credibility.
“So if it [the DPP] expects us to approve a NT$1.25 trillion blank check, they should give up that idea; it is absolutely impossible,” she said.
The KMT is offering a “practical solution” with its “NT$380 billion plus N” proposal, Cheng said.
The “plus N” portion means waiting until the US issues LOAs for arms sales to propose relevant budgets, subject to legislative approval.
The initial NT$380 billion would be sufficient to cover the US$11.1 billion in arms packages approved for sale to Taiwan by the US in December last year, Cheng said.
“People have been saying there is a second round of US arms purchases, for US$14 billion. If that is added in, it would raise the potential costs to NT$800 billion, although some said it would be NT$900 billion,” she said.
“So, as you can see, the number is uncertain, because there is no official figure. It has become a matter of speculation, based on media reports and statements,” which is why the KMT put forth the “plus N” proposal, she added.
Some people say that once the US Congress approves the US$14 billion package, an LOA would follow immediately, Cheng said.
“If that is the case, then that would be great, because we have already agreed to ‘plus N,’” she said.
The KMT would “absolutely not delay” budget reviews for the new LOAs, but would oversee them carefully as required, she added.
Additional reporting by CNA
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