On May 20, Taiwan's Central News Agency and Minshi News Network reported that President Lai Ching-te announced a "New Population Policy Strategy" during a press conference marking his second anniversary in office. A key component of this strategy is the proposal to provide a monthly growth allowance for children aged 0 to 18. Executive Yuan Minister Su Tseng-chang stated that the program is set to be implemented next year.
Taiwan's demographic indicators are deteriorating rapidly. The total fertility rate fell to 0.695 last year. As of the end of April this year, the total population stood at 23,262,544, marking a decline for 28 consecutive months. The proportion of the population aged 65 and older has surpassed 20%, indicating that Taiwan has entered an ultra-aged society.
Details regarding the payment structure are still under review. For children aged 0 to 6, the allowance is intended for parental childcare expenses, while for those aged 6 to 18, part of the funds may be deposited into a "Child Future Account." This account would allow the savings to be used for education or startup costs once the child reaches adulthood.
The estimated budget for this initiative is around 200 billion New Taiwan dollars (approximately $9.4 billion). President Lai stated, "Considering Taiwan's economic scale and tax revenue growth, this is a manageable level." He clarified that this funding will not come from cuts to other budgets.
This growth allowance is one of 18 policies included in the "Family Support Package." The Taiwanese government aims to reduce the burdens of marriage and childbirth for young people by bundling the growth allowance with support for marriage, pregnancy, childcare, work-life balance, and housing assistance.
* This article has been translated by AI.
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