Reuters:
TAIPEI, Aug 25 – Taiwan proposed $19 billion in defence spending for next year on Thursday, a double-digit increase on 2022 that includes funds for new fighter jets, weeks after China staged large-scale war games around the island it views as its sovereign territory.
China carried out its largest-ever military exercises around the democratically governed island after a visit this month by U.S. House Speaker Nancy Pelosi. The trip infuriated Beijing, which saw it as an attempt by Washington to interfere in China’s internal affairs.
The overall proposed defence budget by President Tsai Ing-wen’s Cabinet sets a 13.9% year-on-year increase to a record T$586.3 billion ($19.41 billion).
That includes an additional T$108.3 billion in spending for fighter jets and other equipment, as well as other “special funds” for the defence ministry. A statement from the Directorate-General of Budget, Accounting and Statistics did not provide a break down specifics on where the money would go.
The planned defence spending, which is a record high and must be approved by parliament, marks the island’s sixth consecutive year of growth in defence spending since 2017.
The double-digit rise on 2022 marks a sharp increase compared with the island’s defence spending growth in recent years; yearly growth has been below 4% since 2017.
Statistics department minister Chu Tzer-ming said the increase in defence spending will mainly go to operational costs.
