Taiwan to Distribute NT$10,000 Cash Handout Next Year

Taiwan's President Lai Ching-te announced on December 17 that the government will distribute NT$10,000 (approximately $310 USD) to every citizen next year. This initiative will be funded by a NT$235.7 billion increase in the central government's budget, with the government aiming to maintain a balanced budget and incur no new debt.

The decision comes as Taiwan's economic growth rate is projected to reach 11.05% this year, potentially marking a 39-year high. Huang Shih-chieh, a candidate for Taoyuan mayor, expressed optimism about the plan, stating that it allows the public to share in the nation's development achievements while upholding fiscal discipline. He highlighted the collective efforts of businesses and workers in driving Taiwan's strong economic performance amidst global challenges, particularly citing growth in AI, high-performance computing, semiconductors, and information and communication technology industries.

Huang emphasized that economic growth should translate into tangible benefits for citizens. By returning a portion of the increased revenue directly to the people without increasing debt, the government aims to alleviate household burdens, stimulate consumption, and support local businesses. He noted that this move ensures the fruits of economic growth are integrated into the daily lives of the populace.

Focusing on Taoyuan, a significant industrial hub in Taiwan, Huang stressed the city's potential to leverage the AI-driven industrial transformation and investment growth. He asserted that Taoyuan must seize opportunities to attract more investment and employment, converting national development momentum into local growth. If elected mayor, he pledged to strengthen Taoyuan's industries and improve residents' quality of life.