Since taking the island’s top financial role in July last year, Su Jain-Rong has largely followed his predecessor’s cautious approach in managing its public finances. If anything, he has become even more cautious.
One of the few achievements of former finance minister Sheu Yu-Jer, who moved to chair the Taiwan Futures Exchange after stepping down from his government role, was to reduce the individual income tax rate from 45% to 40%. Sheu has also proposed to add new categories of tax deduction to relieve the financial stresses on lower-income groups.
Just two months after assuming office, however, Su made a highly controversial move to suspend the...
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