DEBT TRAP:The DPP chairperson promised to pull the nation out of debt if it returns to power through strict budget reviews and by seeking foreign investments
Date: Jul 24, 2015
By: Loa Iok-sin / Staff reporter
The financial problems that the Miaoli County Government is facing is a warning to the entire
nation, Democratic Progressive Party Chairperson Tsai Ing-wen (蔡英文) said yesterday, vowing to lead the nation out of a debt trap if she is elected president.
Greeted by hundreds of supporters and accompanied by DPP county councilors, Tsai attended several rallies around the county to stump for the party’s legislative candidates, criticizing the Chinese Nationalist Party (KMT) government, while promising that her party would do a better job.
“Miaoli County owes a record-high debt of more than NT$60 billion [US$1.9 billion], but the debt did not bring anything positive to the county, but only overinvestment and overdevelopment,” Tsai told the crowd. “The county government spent a lot of money on fireworks and concerts for the world’s top tenors; it failed to use taxpayers’ money effectively.” [FULL STORY]