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Taiwan aims to cut spending by NT$45 billion in 2015

Taiwan aims to cut spending by NT$45 billion in 2015


As part of the plan to restore country’s fiscal health, the Executive Yuan has reached consensus on a spending cut of up to NT$45 billion in a cabinet meeting held on Thursday.

Executive Yuan spokesperson Sun Li-chun said that for now the fiscal deficit is estimated at NT$270 billion each year, and the cabinet meeting has nailed down the target of the cut at NT$45 billion for 2015. To reach the target, the Executive Yuan will set up a task force led by Vice Premier Mao Chi-kuo to implement the plan.

In addition to tightening the purse strings, the Ministry of Finance has proposed an amendment bill on business tax as well as income tax and will submit it to the legislators for review.


Updated : 2021-06-13 10:52 GMT+08:00