Taiwan’s government will roll out consumer stimulus programs only when the time is right. That’s the word on Monday from Premier Su Tseng-chang.
According to media reports, Taiwan’s Cabinet is currently drawing up plans to roll out a consumer stimulus program. The measure is designed to help revitalize industries that have been hit by the country’s recent COVID-19 outbreak, which began in mid-May. Su says the government will focus on assisting the restaurant, retail, travel, entertainment, and culture industries.
But Su is urging patience, saying that the government is not yet ready to launch the new spending scheme. He says that Taiwan is still working to contain the spread of COVID-19, and that now is not the time to encourage people to go outside and spend.
Last year, the government’s Triple Stimulus Voucher program allowed people to exchange NT$1,000 (US$35.7) for a voucher with three times the value. People could then use those vouchers to purchase certain goods and services. Su says that the program was wildly popular, and that the government's new plan will aim to have a similar effect on consumer spending.