TAIPEI — Taiwan's cabinet warned on Monday (Dec 23) the island's security might be at risk after opposition parties passed laws that will require cuts in government spending, including defence, at a time when China has ramped up military activity nearby.
Taiwan President Lai Ching-te gives a keynote address on the island's national day. in Taipei, Taiwan on Oct 10, 2024.TAIPEI — Taiwan's cabinet warned on Monday the island's security might be at risk after opposition parties passed laws that will require cuts in government spending, including defence, at a time when China has ramped up military activity nearby.
The legislation will "seriously weaken the central government's financing," Finance Minister Chuang Tsui-yun said at a media briefing on Monday, adding the government might need to increase debt-financing. The legislation could "seriously crowd out the defence budget," Taiwan President Lai Ching-te said in a post on Facebook over the weekend, adding Taiwan's combat capacity might be "hit deeply".The cabinet in August proposed a 7.7 per cent year-on-year rise for defence spending to T$647 billion, a record high for Taiwan as the island adds more fighter jets and missiles to strengthen deterrence against a rising threat from Beijing.
The government will resort to "every possible administrative remedy" allowed by the constitution to preserve the budget, cabinet spokesperson Michelle Lee told reporters, without elaborating.
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