A special budget bill to authorize Taiwan’s central government to spend up to NT$209 billion (US$6.82 billion) on infrastructure and other development projects in 2023 and 2024 cleared the Legislature on Friday.
The bill, described as the fourth phase of the special budget for the Forward-looking Infrastructure Development Program, was approved on the legislative floor after it was cut by NT$367 million, or approximately 0.2 percent.
It enables the central government to spend an additional NT$209 billion beyond the amount authorized in the regular fiscal budget to support plans to build railway infrastructure, promote urban development, expand green energy and improve digital infrastructure.
At present, the proposed NT$2.71 trillion general budget plan for fiscal 2023 proposed by the Cabinet is still being reviewed by lawmakers.
The eight-year Forward-looking Infrastructure Development Program, initiated in 2017 by President Tsai Ing-wen’s (???) administration, has been funded by special budgets drawn up by the central government every two years and authorized by the Legislature.
Since September 2017, the government has been given NT$559.8 billion for the program, which has a cap of NT$840 billion over an eight-year period.
The special budget bill was sent by the Cabinet to the Legislature in August for approval.
According to the Cabinet’s proposal, nearly 26 percent, or NT$53.7 billion of the originally planned NT$210 billion special budget will be allocated to rail planning, construction and renovation.
In addition, around 22.5 percent, or NT$47.4 billion, will go to urban development projects aimed at improving traffic and the promotion of cultural events, while roughly 21 percent, or NT$45.1 billion, will be devoted to construction projects to improve water supply systems.
Source: Focus Taiwan News Channel