If approved by Taiwan's parliament, the plan would raise defence spending to 5 percent of GDP by 2030.
Lai previously laid out plans to boost annual defence spending to more than 3 percent of gross domestic product next year and 5 percent by 2030.
By News Agencies
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Taiwanese President William Lai Ching-te has announced a $40bn budget for defence spending over the next eight years, to get “closer to the vision of an unassailable Taiwan, safeguarded by innovation and technology”.
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