Taiwan's premier said on Monday the government faced a crisis in day-to-day operations, including national security, because of large cuts to this year's budget proposed by opposition parties, who have cited a need to cut waste.

Taiwan's legislature approved a record NT$207.5 billion budget cut, reducing spending to NT$2.9248 trillion.

Taiwan cut NT$100 billion ($3.1 billion) of funding for its struggling utility, which may seek higher electricity rates that could impact some of the world’s biggest chipmakers.

Taiwan's opposition-controlled parliament on Tuesday approved cuts to this year's budget that President Lai Ching-te's party says will hamper its abil

Another U.S.-aligned democracy in Asia is mired in political gridlock, with Taiwan’s opposition challenging defense spending aimed at fending off China.

With just two days remaining before the Legislative Yuan's 11th session adjourns on January 21, 2025, tensions are mounting over the central government's budget vote showdown. The Kuomintang (KMT) and Taiwan People's Party (TPP) majority presents a significant challenge to the Democratic Progressive Party (DPP) as opposition parties push for budget cuts and freezes.

After nearly 20 hours of continuous voting, the Legislative Yuan early this morning passed the second reading of this year’s central government budget, with record-high cuts and freezes. The legislature was to reconvene at 1pm today to complete the third and final reading of the budget.

The opposition coalition in Taiwan's legislature has taken an axe to the government’s 2025 budget, slashing US$6 billion in the biggest spending cut in the country’s history.