Taiwan boosts defence with 10-year military spending plan
- Intention is to surpass US$13 billion by 2027 with further increases planned
- Bid to deter growing threat from mainland China
Taiwan’s military budget is expected to swell to slightly over NT$400 billion (US$13.1 billion) by 2027 as the self-ruled island seeks to bolster its defence capability in the face of growing sumilitary expansion by Beijing.
President Tsai Ing-wen’s government has listed US$11.34 billion for this year’s defence budget, up 5.6 per cent from 2018, compared with Beijing’s US$177.5 billion, which represents a 7.5 per cent growth on last year’s military spending.
Taiwan’s unofficial ally, the US, has repeatedly asked the island to build up its defence capability through increased spending while, at the same time, military intimidation from the Chinese mainland has been on the rise.
Military spokesman Chen Chung-chi told reporters on Monday the defence ministry had worked out an incremental 10-year budget aimed at breaking the NT$400 billion mark by 2027 and rising to NT$421.8 billion by 2029 to bolster the island’s defence capability and uphold the security of Taiwan.
“This is based on our estimation,” Chen said, adding the increase was mainly intended to counter the growing threat from the mainland.
Beijing sees Taiwan as a wayward province that must return to the Chinese fold, by force if necessary. It has stepped up pressure against the island since Tsai, from the independence-leaning Democratic Progressive Party, became president in 2016 and refused to accept the one-China principle.