President Lai Qingde announced that 10,000 yuan will be distributed to all people next year, and the Kuomintang group proposed a special bill for universal distribution of 20,000 yuan.

Executive President Zhuo Rongtai attended the General Policy Questionnaire of the Legislative Yuan on the 2nd. (Photo by reporter Tu Jianrong)

First published: 10:33

Update time: 11:26

President Lai Ching-te announced a general distribution of NT$10,000 next year, and the Kuomintang group in the Legislative Yuan proposed a "Special Bill for Sharing Economic Achievements and Stabilizing People's Livelihoods for All," advocating a cash payment of NT$20,000 per person. When the Legislative Yuan met today (2nd) to handle the report, none of the legislators present had any objections, and the draft was submitted to the Finance Committee of the Legislative Yuan for review.

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The Kuomintang group listed the "Special Bill on Sharing Economic Achievements for All and Stabilizing People's Livelihood" as a priority bill for this session. Fu Kunqi, the general convenor of the party group, pointed out that last year, the state’s tax revenue was 528.3 billion yuan, of which about 40% was repaid to the people, totaling 230 billion yuan. This year’s tax overtax is estimated to be more than 1 trillion yuan. If the same calculation is based on 40%, it will be about more than 400 billion yuan, which is enough for the general distribution of 20,000 yuan to the people.

The draft notes pointed out that my country’s economic growth in 2015 was strong, benefiting from the rapid development of artificial intelligence (AI), semiconductors and information and communication industries. The economic growth rate significantly exceeded original expectations, and the national annual revenue also increased. This economic and financial achievement is accumulated through the joint efforts of all citizens, enterprises and workers. The dividends of AI and industrial development should be appropriately returned to the people.

The draft also stipulates that in the face of continued price rises, increased living costs and high uncertainty in the international economic situation, in order to reduce people's living burdens, protect people's basic needs, increase household disposable income, boost private consumption and expand domestic demand, it is clear that 20,000 yuan in cash will be distributed to each eligible person.

In addition, at the end of August, the Executive Yuan submitted the "2016 Central Government General Budget" to the Legislative Yuan for review. Next year's annual revenue and annual expenditure will both be allocated NT$3.9266 billion, of which NT$235.7 billion will be allocated in the general cash budget of NT$10,000. The Council holds regular meetings, inviting the President of the Executive Yuan, the Comptroller General and the Minister of Finance to attend the report preparation process and prepare for questions.

The 2015 Central Government General Budget Supplementary Budget proposes NT$607.6 billion. In addition to increasing welfare subsidies for elderly farmers, national pensions and six major social welfare subsidies, increasing professional bonuses for military, civil and educational personnel and supervisory bonuses, it also includes subsidies for petroleum and diesel subsidies for China National Petroleum Corporation, frozen and slow increases in natural gas prices, subsidies for frozen and slow price increases for domestic liquefied petroleum gas for China National Petroleum Corporation and Formosa Plastics, subsidies for Taipower's frozen electricity prices, and an increase in capital of China National Petroleum Corp. The Council also holds regular meetings, inviting the President of the Executive Yuan, the Comptroller General and the Minister of Finance to attend the report preparation process and prepare for questions.

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