The Chinese Nationalist Party (KMT) caucus today proposed three policies to address the nation’s declining birthrate, including a monthly subsidy of NT$5,000 (US$158) for children aged up to 15.
The three proposals include fully subsidizing National Health Insurance (NHI) premiums for children aged up to six, providing a NT$20,000 childcare subsidy every six months for the same age group and the NT$5,000 monthly allowance for children up to 15 years old.
The policies would cost an estimated NT$241.6 billion annually, the caucus said.
Photo: CNA
When discussing national security, people often think of missiles, arms purchases or conscription, but the most severe national security crisis is actually the shrinking population, KMT caucus secretary-general Lin Pei-hsiang (林沛祥) told a news conference in Taipei.
The proposed NHI premium subsidy would cost about NT$20 billion annually, the childcare subsidy would cost NT$50 billion and the monthly allowance would require NT$171.6 billion, Lin said.
The total budget of NT$241.6 billion accounts for less than 1 percent of the nation's GDP and about 8 percent of the total central government budget for this year, he added.
These policies would encourage young people to marry, start families and stay in Taiwan, Lin said, urging the government to provide tangible financial support instead of just holding forums or making promotional videos.
"Young people do not need sentimental videos. They need a real extra NT$5,000 in their bank accounts," Lin said.
Neighboring countries have proven that short and long-term policies must be implemented simultaneously to tackle declining birthrates, KMT caucus deputy secretary-general Hsu Yu-chen (許宇甄) said.
The nation needs systematic, long-term investments in future generations, Hsu said, adding that the proposed measures are not just cash handouts, but a way to "buy insurance" for the country and build a foundation for Taiwan's future.
KMT Legislator Hsieh Lung-chieh (謝龍介) said that the annual number of newborns in Taiwan has dropped below 110,000 and could fall below 100,000 by the end of this year.
Calling the demographic crisis a genuine national security threat, Hsieh urged President William Lai (賴清德) to squarely face the issue.
The KMT would work step by step to realize its ultimate goal of solving the economic challenges facing young people, and to provide free meals and education for all children, Hsieh added.
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