Taipei [Taiwan], August 17 (ANI): Taiwan's President Lai Ching-te said Monday that the proposed 2027 central government budget will include NT$235.7 billion (USD 7.401 billion) to fund a universal NT$10,000 (USD 314.15) cash handout, citing strong economic growth fueled by booming AI-related industries, Focus Taiwan CNA English News reported.
In a Presidential Office news release on Monday afternoon, Lai said projected central government revenue for 2027 has been raised to NT$3.9266 trillion (USD 123.43 billion).
The increase will allow the cash handout to be included while maintaining a balanced budget and what Lai described as "effectively no new borrowing."
"We have decided to add NT$235.7 billion (USD 7.401 billion) in expenditures to provide NT$10,000 (USD 314.15) in cash to each person next year, so the 'AI dividend can be shared by all,'" Focus Taiwan quoted Lai as saying.
Lai said individuals and families would be free to decide how to use the money, citing uses such as education, elder care, household expenses or spending that supports local businesses.
The Presidential Office did not provide details on eligibility, the distribution method or when the cash would be paid.
Taiwan launched a universal NT$10,000 (USD 314.15) cash handout in 2025 under a special budget aimed in part at helping people cope with U.S. tariffs and inflation. In that round, recipients included Taiwanese citizens, foreign permanent residents and foreign spouses of Taiwanese citizens with residence permits.
Lai's announcement came after the Directorate-General of Budget, Accounting and Statistics raised its forecast for Taiwan's 2026 economic growth to 11.05 percent from 9.64 percent last Friday.
Taiwan's economy grew 14.15 percent in the first half of the year, while full-year growth is now forecast to reach its highest level in 39 years, Lai said.
He attributed the strong performance largely to growing global demand for AI, high-performance computing and cloud services, which has boosted orders, exports and investment in Taiwan's semiconductor, ICT and manufacturing supply chains.
However, Lai said the benefits of economic growth have not been felt equally, noting that many people work outside the booming technology sector in services, traditional industries and small and medium-sized businesses.
Beyond the cash handout, Lai said the 2027 budget will focus on five other priorities: family support, national defense, technology development, public infrastructure and increased financial support for local governments.
A total of NT$373 billion (USD 11.71 billion) will be allocated to family support measures, while overall defense spending, including the annual budget and special budgets, will reach NT$1.1225 trillion (USD 35.25 billion) -- exceeding NT$1 trillion (USD 31.41 billion) for the first time -- and remain above 3 percent of gross domestic product (GDP).
Lai asked the Cabinet to complete preparations for the budget as planned and expressed hope that the Legislature would review it "on schedule."
His appeal came three days after the opposition-controlled Legislature passed the 2026 central government budget after a record delay.
The opposition Kuomintang and Taiwan People's Party, which together hold a legislative majority, cut NT$48 billion (USD 1.51 billion) from the Cabinet's proposed expenditures, approving NT$2.9869 trillion (USD 93.77 billion) in spending. (ANI)
Universal NT$10,000 (USD 314.44) cash handout to be included in 2027 budget: Taiwanese President Lai