Bailout 3.0: Cabinet to Introduce Special Budget Bill of NT$210 Billion

Bailout 3.0: Cabinet to Introduce Special Budget Bill of NT$210 Billion

Source: UDN

July 24, 2020

Yesterday, the Cabinet proposed an additional special budget bill of NT$210 billion for COVID-19 bailout program 3.0. However, NT$123.5 billion of the proposed budget would be used to reimburse the various ministries for outlays already advanced for earlier bailouts. This means that only NT$86.5 billion is left for use at the present time.

According to the Directorate General of Budget, Accounting and Statistics under the Cabinet, of the proposed NT$210 billion budget, NT$130.6 billion is for bailouts, including subsidies granted by the Ministry of Economic Affairs to the manufacturing industry as well as the convention and exhibition industry, and subsidies granted by the Ministry of Transportation and Communications to tourism-related industries. The bailouts will continue to be granted until the end of the year.

NT$41.1 billion is for revitalization, most of which will be used for the “3 times coupons”. NT$38.3 billion is for epidemic-prevention, among which NT$11.5 billion will be used to purchase COVID-19 vaccines, and the rest will be slated as on-duty special subsidies to medical and nursing staff or be used to strengthen border controls.

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