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Revised general budget proposal clears Cabinet

2017-09-14
  • Premier William Lai

    Premier William Lai

    Premier William Lai led the Cabinet in passing the revised government budget for the upcoming fiscal year. (CNA file photo)

A revised general budget proposal was cleared by the Cabinet on Thursday.

 

The newly appointed premier, William Lai, reopened discussions on several budgetary matters after he took office last week. The Cabinet has now passed the revised government budget for the upcoming fiscal year.

 

The revision introduced a number of changes. They include the addition of NT$7 billion (US$233 million) in projected revenue which totals NT$1.9 trillion (US$63 billion). The projected expenditure has also seen a slight increase and is set at NT$1.99 trillion (US$66 billion). The largest portion of the expenditure will be spent on social welfare.

 

One notable change to the budget is the 3% wage increase for public sector workers, which will set the government back NT$18 billion (US$600 million).

 

The wage adjustment has led some members of the public to worry about potential increase in commodity prices. Premier Lai said inflation is likely to see only a very mild uptick after the wage increase.