Special budget passed; NT$10,000 cash handout expected in early November

Taipei, Oct. 17 (CNA) A NT$550 billion (US$17.92 billion) special budget bill aimed at strengthening economic, social and national security resilience that includes funding for a proposed NT$10,000 cash handout, cleared the Legislative Yuan on Friday.

The cash handout is expected to begin in early November, Finance Minister Chuang Tsui-yun (莊翠雲) previously said, noting that details on the distribution schedule will be announced on the same day the president promulgates the special budget.

Foreign nationals with permanent residency or those married to Taiwanese nationals will be eligible for the NT$10,000 cash handouts from the government, according to the Cabinet in September.

The Cabinet approved the NT$550 billion special budget on Sept. 11, with NT$236 billion earmarked for the cash handout and NT$20 billion for reserve funds for future industrial support.

The Legislative Yuan's Finance and other related committees later conducted a joint review before forwarding the bill for cross-party negotiations.

Legislative Speaker Han Kuo-yu (韓國瑜) convened cross-party talks on Wednesday, during which eight proposals were agreed to be voted on, including a NT$200 million cut to national defense capacity-building, a NT$2 billion freeze on subsidies to labor and health insurance funds, and a reduction in media promotion expenses.