New Youth Housing Program 2.0 to be Announced within 2 Weeks, Considering Age and Income Limits

(Central News Agency, Taipei, July 8) The "New Youth Housing Program" is set to expire at the end of July. Minister of Finance Chou Jui-ling stated today that adjustments are currently being reviewed and will be announced within two weeks, incorporating considerations for borrowers' age and income.

The Legislative Yuan's Finance Committee has scheduled a review of the subsidiary unit budgets for the 115th fiscal year's central government general budget, specifically for Taiwan Cooperative Financial Holding Co., Ltd., the Government Information Office, and Taiwan Tobacco and Liquor Corporation, all under the Ministry of Finance.

When Minister of Finance Chou Jui-ling appeared before the Legislative Yuan's Finance Committee for questioning this morning, legislators including Lin Te-fu and Li Yen-hsiu from the Kuomintang, and Liu Shu-pin from the Taiwan People's Party, all inquired about the progress of the "New Youth Housing Program 2.0" policy.

Chou Jui-ling stated that the "New Youth Housing Program" will conclude at the end of July this year. The Ministry of Finance is continuously planning the program for after August 1st. While the original hope was to announce it by the end of June, due to ongoing differing opinions from the public, the Ministry of Finance is currently reviewing it and will definitely announce it before the end of July, within two weeks.

Liu Shu-pin pointed out that according to data from state-owned banks, over 6,700 loan recipients aged 50 and above have benefited from the "New Youth Housing Program," accounting for 5.23%. More than 18,000 recipients with an annual income exceeding NT$2 million have benefited, representing 14.38%. He questioned whether this group truly needs national interest subsidies to help them start a family.

Chou Jui-ling explained that according to Ministry of Finance statistics, loan recipients under 40 years old constitute 72.48% of the "New Youth Housing Program" borrowers, and those under 50 account for 94.61%. Essentially, those over 50 are still a minority. The future new policy will consider the suggestions made by legislators and incorporate age as a factor.

Chou Jui-ling stated that the "New Youth Housing Program" loan is intended to assist individuals without their own homes in purchasing property, and it should be utilized by those genuinely in need of assistance. Therefore, the new policy will include income considerations, for example, individuals exceeding a certain income threshold will not be eligible.

Furthermore, Liu Shu-pin also suggested that factors such as the maximum loan amount for individuals and a reasonable "housing price-to-income ratio" should be considered simultaneously to prevent further increases in housing prices. Chou Jui-ling responded that these will be taken into account, as resources should be directed towards individuals who need government assistance. Currently, Taiwan's housing price-to-income ratio is indeed high compared to other countries, which is why the government is assisting the public through various means, including the "New Youth Housing Program" and social housing.

Regarding families with children and those getting married, Chou Jui-ling added that the government has already proposed a new strategy for Taiwan's population policy to assist the economic needs of married and child-rearing families in a multifaceted way. For the "New Youth Housing Program" loan, different loan amounts will also be considered for married and child-rearing families.

Li Yen-hsiu reminded that for families with an annual income of over NT$2 million, the burden is vastly different for single individuals or dual-income no-kid (DINK) couples compared to families with children. She asked if there will be differentiated treatment in the future. Chou Jui-ling stated that this is indeed being considered, and therefore, the means-testing provisions will not become "punitive conditions." (Editor: Lin Shu-yuan) 1150708

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