MOF to adopt broad, creative approach: finance minister

Liu outlined several major new tasks for her ministry following instructions from Premier Sean Chen, who suggested that the MOF adopt a more creative and innovative approach instead of confining itself to its traditional roles.

When inspecting the MOF operations, Chen noted that the MOF has a vital role in collecting tax revenues but it should not confine itself to being just the “Ministry of Tax” but should instead set its sights on a broader spectrum.

Minister Liu said the MOF will place equal emphasis on both gathering tax revenues to reduce the national debt and making proper expenditures to yield the maximum effect for the people by utilizing the nation's financial resources.

According to Liu, there is no need for Taiwan to panic over economic uncertainties caused by the ongoing European debt crisis.

The nation still maintains stable and healthy financial standing since its total debts are not serious by international standards, she explained.

But the government needs to take more a resourceful approach to gradually cut down the debts by putting the government-owned land assets to work more efficiently to generate additional revenues for the national coffers.

One possible approach is to coordinate with other government agencies to carry out joint development of public properties, Liu said.

She made the remarks to reporters after the meeting with the premier.

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