Executive Yuan Pushes 4 Budgets to Pave a Broad Path for the Nation; Sovereign Wealth Fund Under Deliberation

(CNA, Reporters Lai Yu-chen, Kao Hua-chien, Taipei, 19th) With May 20th approaching, Premier Cho Jung-tai said today that the government cherishes resources and is building a broader path for the nation. There are four more budget-related tasks to be done, including this year's central government general budget and the special budget for military procurement, both of which are hoped to proceed smoothly through deliberation. Subsequently, the government will introduce a more macroscopic general budget for the next year, as well as a supplementary budget for the eight major social welfare benefits. As the Lai administration marks its second anniversary, Premier Cho Jung-tai, Vice Premier Cheng Li-chun, and Secretary-General Chang Tun-han attended the Executive Yuan's May 20th press conference today. They explained the government's work in three major areas in recent years: industrial upgrading and wage increases for labor; expanding social welfare and universal care; and balancing Taiwan and investing in the future. They also presented "magic numbers" for future policy outlooks and responded to media questions. Regarding the magic numbers for future policies, Cho said the government will continue to promote the "Pearl String Project" to serve the world and strengthen the upgrade of Taiwan's water supply backup system to prevent risks of water shortages for chip factories and others. '2' refers to two international airports, Taoyuan and Kaohsiung, where terminal and runway renovation projects are underway. '3' is the early launch of Long-term Care 3.0, promoting care for all ages. '4' is the four-year, NT$100 billion project for improving county and city-managed rivers. '6' refers to the six major industrial living circles, in which NT$550 billion has been invested over two years to promote balanced development in Taiwan, increasing Taiwan's industrial output value by NT$17.3 trillion and creating over 720,000 job opportunities. Cho stated that '8' is the comprehensive increase in eight major social welfare subsidies; '10' is the new top ten AI construction projects; '13' refers to the development of 13 key strategic industries, for which various flagship plans will be proposed. '18' is the comprehensive support plan for ages 0 to 18 that the government will soon propose, with specific details expected on the 28th. To promote these policies, Cho said there are still four budget-related tasks for the government to push forward, including this year's central government general budget and the special budget for military procurement. The government hopes both can be smoothly deliberated or enter the deliberation process. Subsequently, a more macroscopic general budget for the next year and a supplementary budget for the eight social welfare benefits will be introduced. Regarding the sovereign wealth fund, Cho said that over the past year, amid changes in the world situation such as tariff negotiations, the Russia-Ukraine war, and the Middle East situation, the National Development Council, the Financial Supervisory Commission, the Ministry of Finance, and the Central Bank have successively produced increasingly mature reports and plans for a sovereign wealth fund. However, he currently hopes to form a "success-only, no-failure" sovereign wealth fund under a more stable world situation, with the most precise vision, more efficient management, learning from the most advanced mechanisms, and through a high degree of social consensus. Therefore, it needs a little more time for careful deliberation. This matter cannot be taken lightly and is not about speed, but about quality. In response to media questions about the Middle East situation, Cho pointed out that although market order was not so smooth for a period, the government resolved it in a relatively short time to stabilize prices and ensure sufficient supply. Starting tomorrow, fuel subsidies will also be provided to 90,000 taxi operators nationwide, as well as to domestic passenger transport, aviation, and shipping industries. Taiwan's current stable state will continue, and he hopes for stability in the world soon. At the press conference today, Cho also brought out canelés, a dessert, explaining that their creation was based on cherishing food. It is said that in the 18th century, nuns in a French convent cherished food and accidentally developed this dessert. This spirit is like the government's administration, cherishing every precious resource from all citizens. Just as making canelés requires proper heat and patience, the administrative team will use its professionalism and perseverance to build a broader path for the nation. (Editor: Yang Kai-hsiang) 1150519