Taiwan’s President, Lai Ching-te, has unveiled a plan to provide cash assistance of NT$10,000 (approximately $314) to every individual in the country next year. This initiative is made possible by robust economic growth driven by advancements in artificial intelligence (AI), as reported by EFE and Agerpres.
The proposal was introduced by Lai following a budget meeting for 2027, with detailed plans expected to be revealed next Thursday. The budget will require parliamentary approval to be enacted.
Lai outlined that the plan will involve an additional expenditure of NT$235.7 billion (around $7.4 billion) for a universal cash distribution of NT$10,000 per person, aiming to ensure that the benefits of AI advancements are shared among the entire population.
According to Lai, the way individuals and families choose to utilize this cash assistance will vary, with funds potentially used for children’s education, elderly care, alleviating financial burdens, or boosting local consumption and businesses.
The Taiwanese leader emphasized that once this cash assistance is implemented, the 2027 budget will maintain a balance between revenues and expenditures without increasing net debt. Furthermore, the local economy is projected to grow by 11.05% in 2026, which would mark the best economic performance for Taiwan in nearly four decades.
Taiwan, home to the world’s largest advanced semiconductor manufacturer (TSMC) and the leading producer of AI products and servers (Foxconn), has significantly benefited from the AI boom. In the first half of this year, Taiwan’s exports of technological components and devices surged by over 47% compared to the same period last year.
Last year, the island distributed similar cash aid of NT$10,000 as part of a special budget aimed, in part, at mitigating the impact of U.S. tariffs and inflation. During that initiative, Taiwanese citizens, permanent foreign residents, and foreign spouses of Taiwanese citizens holding residence permits were eligible for assistance.
