Taiwan plans NT$25 billion subsidy for families

On Monday, it approved an additional NT$420 billion in stimulus spending to support the economy as business activities are curbed.
By: | June 1, 2021
Topics: Compensation and Benefits | Employee Experience | Health and Wellness | News | Taiwan

The Taiwan government is seeking legislative approval to expand its COVID-19 subsidy programme for families with young children, with an allocation of up to NT$25 billion (US$908 million), according to a Cabinet source, reports Taipei Times. 

Families with children who attend elementary school or younger, and kids with disabilities who attend junior high or high school would receive NT$10,000 (US$363) per child, and is estimated to benefit 2.45 million children in Taiwan, said the source. 

On Monday, Taiwan’s parliament approved an additional NT$420 billion (US$15.3 billion) in stimulus spending to support the economy as business activities are curbed under heightened restrictions. This will run until June 30 next year, and is on top of previously announced stimulus spending worth NT$420 billion.

The central bank is also running a NT$400 billion (US$14.5 billion) scheme to provide preferential loans to SMEs. 

READ: Taiwan plans to double stimulus funding for COVID-19 support

COVID-19 cases in Taiwan have surged in recent weeks, leading the government to enforce restrictions such as a limit on social gatherings. Entertainment venues have also been shut.