DistantNews
Support us
🇹🇼 Taiwan /Elections & Politics

Taiwan President announces NT$10,000 cash handout; opposition calls it 'stingy' and urges legalization

From Liberty Times · () Chinese

Translated from Chinese, summarized and contextualized by DistantNews.

At a glance

News Named sources New plan
  • Taiwan's President Lai Ching-te announced a plan to distribute NT$10,000 (US$310) in cash to all citizens next year.
  • The move aims to share economic gains, particularly from the AI sector, with the public.
  • Opposition parties criticized the amount as too small and called for the process to be legalized.

Taiwanese President Lai Ching-te announced a plan to distribute NT$10,000 (approximately US$310) in cash to every citizen next year, framing it as a way to share the nation's economic prosperity, particularly gains from the booming AI sector. The funds, totaling NT$235.7 billion (US$7.3 billion), will be included in the upcoming fiscal year's budget.

Only issuing NT$10,000 is too stingy; it should be at least NT$20,000.

— Hsu Yu-chenCriticizing the amount of the proposed cash handout.

However, the proposal has drawn criticism from the opposition Kuomintang (KMT) party. KMT legislative whip Hsu Yu-chen called the NT$10,000 payout "stingy," arguing that at least NT$20,000 should be distributed, given the robust tax revenues. Taiwan's tax revenue from January to July reached NT$2.87 trillion, already 76.7% of the total collected last year. Hsu pointed out that economic growth forecasts have been revised upward and the stock market is active, leading to significant increases in taxes like the securities transaction tax.

The entire decision-making process was very hasty; the ruling and opposition parties should seriously consider legalizing cash handouts.

— Lee Yen-hsiuCommenting on the process and advocating for a legal framework for such distributions.

KMT legislator Lee Yen-hsiu echoed these sentiments, criticizing the hasty decision-making process. She urged for a more formalized, legal framework for cash handouts, noting that past distributions were handled through special statutes, whereas this plan is integrated into the annual budget, limiting legislative review. The KMT argues that surplus tax revenue should prioritize debt reduction, and universal cash handouts may not be the most efficient allocation of resources.

If the government truly wants to share with everyone, it should plan for at least NT$20,000.

— Hsu Yu-chenArguing for a larger cash distribution based on current economic conditions.

Hsu Yu-chen also highlighted a perceived hypocrisy, recalling that President Lai previously questioned the utility of NT$10,000 when proposed by the opposition last year, deeming it insufficient for household expenses. Now, as president, he is promoting the same amount as a significant benefit derived from AI advancements. This perceived double standard, where the opposition's proposal was deemed wasteful while the president's own is celebrated as "sharing AI dividends," has fueled the KMT's criticism.

Last year, when the opposition party proposed issuing NT$10,000, President Lai even asked, 'How long can NT$10,000 last?'... Now, when President Lai himself issues NT$10,000, it's suddenly a 'dividend for all to share.'

— Hsu Yu-chenPointing out a perceived inconsistency in President Lai's stance on cash handouts.
DistantNews Editorial

Originally published by Liberty Times in Chinese. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

More Stories

From Our Blog