Wu Yinong, a candidate for the by-election of the legislator of Taipei's third constituency.

(Photo by reporter Tu Jianrong)

[Reporter Cai Sipei/Taipei Report] Wang Hongwei, a KMT candidate for the by-election of the Taipei Third Constituent District Legislative Council, put forward the political opinion of "repaying taxes to the people" today, pointing out that this year's estimated government tax collection of 450 billion yuan is expected to be returned to the people. , and the rest is used to repay the national debt.

Democratic Progressive Party candidate Wu Yinong advocated that taxation and excess revenue should be used first to repay debts, and also hoped that the government would propose more assistance plans for industrial revitalization and public relief under the epidemic.

Wu Yinong said that the central government's total budget for 2022 will have an annual revenue of 2.2391 billion yuan and an annual expenditure of 2.2621 billion yuan, a shortfall of 23 billion yuan. Together with the debt repayment of 96 billion yuan, 119 billion yuan of financing resources will be needed to borrow 69 billion yuan. 100 million yuan and the balance of the remaining 50 billion yuan in the previous year's budget.

Wu said that if considered together with the special budget, the overall annual revenue and annual expenditure deficit of the 2022 general budget will be as high as 213.6 billion yuan. After adding debt repayment and deducting the surplus of the previous year's budget, debts will need to be 254.6 billion yuan.

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Wu Yinong said that for the 450 billion yuan in tax revenue that may exceed expectations for the full year of 2022, if you do not want to increase the national debt burden, in fact only about 200 billion yuan in revenue will be added, and the average distribution to the citizens will be about 8,500 yuan per person.

However, as of December this year, the outstanding balance of central government debt was 5.7 trillion yuan (240,000 yuan per person per citizen), which is a debt that this generation and future generations will have to repay.

Wu said that in the current environment of continuously rising interest rates, the cost of borrowing will become higher and higher in the future. If the extra income is used first to repay debts, it will reduce the burden on children and grandchildren.

Wu Yinong advocates that taxation and excess revenue be used first to repay debts. In the past two years, the impact of the epidemic has caused many people to live a hard life. He hopes that the government will further provide more assistance for industrial revitalization and public relief under a slightly austere financial situation.