Premier Su Tseng-chang (???) has instructed central government agencies to assess ways to lift the economy and take better care of vulnerable groups in the post-COVD era, Cabinet spokesman Lo Ping-cheng (???) said Monday.

Various proposals and programs are being assessed to meet future challenges amid mounting inflationary pressure, Lo told CNA after lawmakers across party lines called on the government to share Taiwan’s high tax revenues with the people.

In the first 11 months of 2022, the central government collected more than NT$3 trillion in tax revenues, and the Ministry of Finance (MOF) has estimated that this year’s tax revenues could exceed the budgeted amount by NT$450 billion (US$14.65 billion).

Among several proposals to use the “excess” tax revenues to stimulate the economy, consumption vouchers seemed to be the preferred method to return some of the tax revenues to citizens.

Speaking at a legislative hearing earlier Monday, acting Finance Minister Juan Ching-hwa (???) said issuing vouchers is more effective in boosting a sluggish economy than doling out cash because they would have to be used to buy things, directly creating economic activity.

Juan, however, said it requires cross-department planning and evaluation before a decision is made.

Pointing to the large amount of money being collected by national coffers, opposition Kuomintang Legislator Lai Shyh-bao (???) urged the MOF to follow Singapore’s lead in allowing the people to receive a bonus in the form of cash.

Ruling Democratic Progressive Party Legislator Lin Chu-yin (???) questioned the concept of “excess tax revenues” and whether the tax receipts were excessive or simply the product of budgets that have been set too conservatively in recent years.

She argued that as tax receipts have met their target, the MOF should consider how to share the excess tax revenues with the public.

At the same time, however, the MOF still had to consider fiscal discipline when coming up with a strategy, she said.

“If the MOF decides fiscal discipline is more important [than giving back the excess taxes], it should provide a clear explanation to the public,” she added.

In a social media post, a group of DPP legislators including Chen Ming-wen (???), Su Chih-fen (???), Lo Chih-cheng (???) and Chuang Jui-hsiung (???), urged the Cabinet to give NT$10,000 in cash to every citizen to bolster the economy and inject new energy into society.

Later on Monday, two other DPP legislators, Chao Tien-lin (???) and Wang Ting-yu (???), also called for the issuance of consumption vouchers or the granting of cash or subsidies.

Source: Focus Taiwan News Channel