The legislature on Tuesday raised the budget of a stimulus package for the economy in the wake of the COVID-19 pandemic.
The budget to tackle the COVID-19 outbreak was raised to NT$210 billion (US$7 billion). The legislature also gave the green light to a ruling DPP version that would allow the government to set aside an extra NT$210 billion to cope with the COVID-19 outbreak. This additional budget would still need to undergo legislative review and would be dependent on future circumstances. In other words, there is now no cap on public debt.
The revision of the law governing the budget also said that subsidies, stipends, financial rewards and compensation are tax-free.
Another clause, introduced by the Taiwan People’s Party, was passed that would offer subsidies to the self-employed and those with freelance jobs.