TAIPEI (Reuters) -Taiwan proposed spending an extra T$240 billion ($8.69 billion) on defence over the next five years on Thursday, including on new missiles, warning of the urgent need to upgrade weapons in the face of a “severe threat” from its giant neighbour China.
Taiwan President Tsai Ing-wen has made modernising Taiwan’s armed forces – well-armed, but dwarfed by China’s – and increasing defence spending a priority, especially as China ramps up its military and diplomatic pressure against the island it claims as “sacred” Chinese territory.
The new money, which comes on top of planned military spending of T$471.7 billion for the year starting in January, will need to be approved by parliament where Tsai’s ruling party has a large majority, meaning its passage should be smooth.
“The Chinese Communists have continued to invest heavily in national defence budgets, its military strength has grown rapidly, and it has frequently dispatched aircraft and ships to invade and harass our seas and airspace,” Taiwan’s Defence Ministry said in a statement after a weekly Cabinet meeting.
“In the face of severe threats from the enemy, the nation’s military is actively engaged in military building and preparation work, and it is urgent to obtain mature and rapid mass production weapons and equipment in a short period of time.”
The weapons Taiwan aims to buy with the money includes new cruise missiles and new warships, the ministry added.
($1 = 27.6330 Taiwan dollars)
(Reporting by Ben Blanchard and Yimou Lee; Editing by Muralikumar Anantharaman and Sam Holmes)
