Virus Outbreak: Economic stimulus package expandedTRILLION PROPOSED: The premier said the goal was to keep ‘businesses solvent, the unemployment rate down, transportation and logistics going, and cash flowing’By Sean Lin / Staff reporterThe Executive Yuan yesterday announced an expanded economic stimulus package totaling NT$1.05 trillion (US$34.64 billion), including NT$81.6 billion in subsidies for employers to prevent a spike in unemployment. The NT$150 billion increase in the special budget is to be paid for by increasing national debt by NT$100 billion in the current fiscal year and NT$50 billion in the next, Chu said. Overall, the package is to make up about 5.4 percent of this year’s nominal GDP, he said. The transportation ministry plans to give the nation’s approximately 92,000 taxi and 16,000 tour bus drivers NT$10,000 per month for three months, while the economic ministry would issue a monthly subsidy of NT$10,000 to about 1 million self-employed people for three months, he said. Premier Su Tseng-chang (蘇貞昌) approved a draft amendment to the Special Act on COVID-19 Prevention, Relief and Recovery (嚴重特殊傳染性肺炎防治及紓困振興特別條例) to accommodate the increase in the special budget.

Source: Taipei Times April 02, 2020 15:56 UTC