Taiwan's cabinet approves record NT$607.6 billion extra budget with CPC capital injection and fuel subsidies
Taiwan's government is spending a record amount to hold down gas, cooking gas, and electricity prices — good for commuters and families now, but it puts the bill on the state.
- The cabinet passed its biggest-ever supplementary budget, with most of the money going to keeping living costs down.
- The biggest single item is a large cash injection into state oil and gas firm CPC, which has lost money six years running because it was told to freeze prices.
- The rest covers frozen prices on gasoline, diesel, household cooking gas, and electricity, plus help for airlines, taxis, farmers, and fishing boats.
- The cause is the Middle East war that started in February, which pushed oil above $144 a barrel at its peak and has kept energy prices unstable.
- Without the subsidies, gas would jump to NT$45 a liter and commuters would pay NT$1,000–2,000 more a month.
Outlook: The plan now goes to parliament, where the government wants fast approval so it can keep gas and cooking gas prices flat through year-end.