Taiwan Opposition Accuses Government of Sneaking China Steel Investment Into Supplementary Budget

Taiwan’s governing Democratic Progressive Party defended a NT$6.076 trillion supplementary budget after opposition parties accused the government of quietly adding NT$233.8 billion to the capital of CPC Corp., Taiwan.

DPP spokesperson Wu Cheng said the package followed a “borrow less, do more” principle. He argued that the government had a duty to address consumer prices, support disadvantaged people, improve military and civil-service pay, strengthen national defense and help areas recover from disasters.

Wu said the budget did not represent the careless spending alleged by opposition parties. According to figures from Taiwan’s Directorate-General of Budget, Accounting and Statistics, significantly higher revenue would mean total borrowing for the year would fall by NT$90.7 billion compared with the original plan after the supplementary budget. The gap between revenue and spending would also shrink by NT$125.2 billion, bringing the fiscal balance closer to equilibrium.

The package includes NT$187.5 billion in subsidies for oil, electricity, public transport, fertilizer and distant-water fishing vessels, as well as the NT$233.8 billion CPC capital increase. Wu said the investment would strengthen the resilience of natural-gas supplies and help shield households and food businesses from international energy-price volatility linked to geopolitical changes.

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Which of these matters should the government not actively address?

The government also set aside NT$21.5 billion for lower-income and rural support. The plan would raise the allowance for older farmers to NT$10,000, increase national pension payments to NT$5,000 and lift eight major welfare allowances by 23.5%, with payments backdated to July 1.

Other measures would raise professional and supervisory allowances for military personnel and civil servants by NT$2,000 each, and increase subsidies for village and ward chiefs, councilors’ assistants and Coast Guard personnel. A further NT$145.7 billion would fund counter-tactical ballistic missiles, drones and unmanned boats, as well as higher allowances for combat units.

With just over three months left in the year, Wu urged opposition parties to return to what he called a rational and professional review of the proposal. He said action on living costs, post-disaster reconstruction and national security should not be delayed.

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Borrow less, do more.