Virus Outbreak: Virus budget given NT$150bn top-upBAILOUTS COMING: The increase would cover subsidies for affected companies’ operating costs, grants for needy households and programs to spur consumer spendingBy Sean Lin / Staff reporterWithout slashing a dollar, legislators yesterday passed a NT$150 billion (US$5.02 billion) increase to the Special Budget for COVID-19 Prevention, Relief and Recovery. The budget increase — which builds on NT$60 billion in stimulus funding that was passed on Feb. 25 — is divided into two parts: NT$133.5 billion in relief funds and NT$16.5 billion for disease prevention. Legislative Speaker You Si-kun, right, bangs his gavel at the Legislative Yuan in Taipei yesterday to mark the passage of additional funds for the Special Budget for COVID-19 Prevention, Relief and Recovery. Minister of Finance Su Jain-rong (蘇建榮) said in the explanation for the increase that it would be entirely sourced from borrowing. Several resolutions accompanying the budget increase were also passed.

Source: Taipei Times May 08, 2020 15:56 UTC