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Global Chip Hub Taiwan Hammered By Triple Blow Of Drought, Blackouts And COVID Surge

Taiwan proposes US$7 56 billion bailout to battered industries amid COVID | Taiwan News

2021/05/27 17:58 Empty night market in Taipei  Empty night market in Taipei  (CNA photo) TAIPEI (Taiwan News) Taiwan s Cabinet passed a proposal on Thursday (May 27) in a bailout effort to prop up the economy as the COVID-19 surge is sending ripples across every sector. National Development Council Minister Kung Ming-hsin (龔明鑫) said new funds will be set aside to support service, tourism, transportation, education, culture, agriculture, and fishing industries. These areas have been the most heavily hit during the new round of coronavirus onslaught. A NT$210 billion (US$7.56 billion) special budget pending legislative approval will see low- and middle-income families receive a monthly NT$1,500 payment for three months and emergency relief applicants granted NT$10,000 to NT$30,000. Cash aid will also benefit farmers, fishermen, self-employed workers, and travel industry employees.

COVID-19: Council plans additional NT$210bn for virus relief

The National Development Council (NDC) yesterday detailed a plan to allocate an additional NT$210 billion (US$7.55 billion) budget to the government’s COVID-19 relief fund in the wake of an escalating community spread of the coronavirus in Taiwan. Council Minister Kung Ming-hsin (龔明鑫) told a news conference after a weekly Cabinet meeting that the budget is expected to go toward helping the hardest-hit individuals and industries, as well as providing additional loans to people in need. For instance, a one-time subsidy of NT$10,000 to NT$30,000 is planned for individuals such as farmers, fishers, tour guides, taxi drivers and the self-employed, Kung

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