Taiwan plans to give cash payouts of nearly $200 to every citizen this year, Premier Su Tseng-chang announced on Wednesday, saying the island's economic growth will be shared by everyone.
The export-reliant economy, a global tech powerhouse for products including semiconductor chips, grew 6.45% in 2021, the fastest rate since it expanded 10.25% in 2010.to plough an extra T$380 billion in tax revenue from last year back into the economy to help protect the island from global economic shocks, including subsidies for electricity prices and labour and health insurance.
"The fruit of economic achievements will be shared by all citizens, from young to old," Su told reporters, adding the potential payout requires approval from parliament, where the ruling Democratic Progressive Party has a majority.
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