Vouchers, coupons nearly triple business revenue

10/29/2020 07:58 PM
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CNA file photo
CNA file photo

Taipei, Oct. 29 (CNA) A stimulus voucher program and coupon packages rolled out by the Executive Yuan and other government agencies aimed at bolstering the economy have nearly tripled business revenue, according to the Ministry of Economic Affairs (MOEA) on Thursday.

The figures were made public at a weekly Executive Yuan meeting, in which ministry officials presented a report to Premier Su Tseng-chang (蘇貞昌).

Su was told that the stimulus vouchers issued by the Executive Yuan and coupons issued by other agencies to boost the economy amid the COVID-19 pandemic, at a total cost of NT$65.055 billion (US$2.243 billion), have generated an estimated NT$179 billion in business revenue.

In addition to the "Triple Stimulus Vouchers" issued by the Executive Yuan on July 15, the Ministry of Transportation and Communications, the Council of Agriculture, the Sports Administration, the Ministry of Culture, and the Hakka Affairs Council issued their own coupons.

The stimulus voucher program allowed users to buy NT$3,000 worth of vouchers for NT$1,000 in an effort to boost consumption.

All 23 million Taiwanese citizens and 150,000 foreign and Chinese spouses who hold residency permits, regardless of age or income level, were eligible to purchase the vouchers in either paper or electronic form.

Speaking to reporters after the meeting, Small and Medium Enterprise Administration (SMEA) Director-General Ho Chin-tsang (何晉滄) said as of Tuesday, 22.89 million people had collected the Triple Stimulus Vouchers, or 96 percent of the eligible population.

Around 21.09 million people opted for paper stimulus vouchers, while 1.8 million chose the electronic form, with only 910,000 having yet to collect their stimulus vouchers, Ho noted.

The buying spree triggered by the stimulus vouchers has been reflected in business revenue and government tax income, as seen by the growth in Taiwan's retail sales in July, ending a five-month contraction, he said.

The country's retail sales in August and September both set a historical single-month high, as did the record high posted by the restaurant and beverage sector in September, Ho added.

(By Flor Wang and Yu Hsiang)

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