The Cabinet approved a NT$210 billion (US$7.14 billion) budget for an extended bailout plan on Thursday.
The new budget will be used in the Cabinet’s “Bailout Plan 3.0”. About 65% of the budget will come from the economics ministry. This will be used to cover the economic stimulus vouchers that citizens have been able to order since last week, as well as funding for industries hit hard by the Covid-19 pandemic.
Meanwhile, the health ministry will be contributing NT$37 billion ($126 million) to the budget, the Council of Agriculture NT$19 billion ($65 million), and the transportation ministry a further NT$9.8 billion ($333 million). The transportation ministry’s contribution will go towards helping the tourism sector and air carriers.
The Cabinet has sent the budget to the Legislature for approval. The Legislature is currently in its first extraordinary session during the summer recess. However, Democratic Progressive Party caucus whip Ker Chien-ming says that the budget will likely have to wait until the second extraordinary session. This will begin after August 15.