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Chang touts housing loan incentives

Chang touts housing loan incentives

Premier Chang Chun-hsiung (張俊雄) said yesterday that the government has provided NT$1.8 trillion in funds for housing loans over the past seven years to help the construction sector recover from a protracted recession.
The premier said that the construction sector serves as the leading industrial locomotive and that in 2000, when he first served as the premier, the construction sector was at its low ebb.
He noted that when the first national economic development conference was held in August 2001, the participants suggested several measures, including halving the land value-added tax, to shore up the struggling construction sector.
The government has since adopted the suggestion and pledged to local governments that if tax revenues decrease in the next two years because of the new measure, the government will provide subsidies to make up the shortfall.
Increased land transactions
However, he noted that cutting the land value-added tax has helped increase the number of land transactions and that in the last few years, the government has never actually had to provide subsidies to the local governments.
To help people purchase their own houses and stimulate the real estate market, the Executive Yuan also announced it will provide NT$520 billion in preferential housing loans, and it has provided NT$1.8 trillion in housing loans over the past seven years, he said.
The premier made the remarks while speaking at an event to mark the 36th Architect Day.


Updated : 2021-06-14 21:24 GMT+08:00