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Health minister resigns over premium dispute

Department of Health Minister Yaung Chih-liang (楊志良) tendered his resignation in a shock move yesterday, saying he could not fulfill Premier Wu Den-yih’s (吳敦義) request that 75 percent of the insured be exempted from a proposal to increase national health insurance premiums.

Wu rejected Yaung’s resignation late last night, however. Executive Yuan spokesman Johnny Chiang (江啟臣) said the premier hoped Yaung would stay in the position.

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China sees bank risks in local-government financing

Chinese central bank Governor Zhou Xiaochuan (周小川) said that local-government financing vehicles using land as collateral may pose risks for the nation’s banks.

“When land prices rise, there may be over-valuation of land,” Zhou said at a press briefing in Beijing yesterday. “In the future, if land prices fall, there may be a difference in the assessment of the loan.”

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Newsflash

Independent presidential candidate Ellen Huang (黃越綏) said yesterday that the indictment of former president Lee Teng-hui (李登輝) over embezzlement of public funds was aimed at attacking Democratic Progressive Party presidential candidate Tsai Ing-wen (蔡英文).

“The most pathetic thing about Lee’s indictment was political intervention through the judiciary, making it a political tool to blow away [the ruling party’s] political rivals,” Huang said during a -gathering with netizens in Taipei yesterday evening.

Huang said that Chinese Nationalist Party (KMT) Legislator Chiu Yi (邱毅) recently said the charge against Lee would point to Tsai’s involvement in an “816 project” under the secret diplomacy funds from which Lee allegedly embezzled. The 816 project was part of the Mingteh Project (明德專案) focusing on secret diplomacy with the US and Japan. Chiu alleged that Tsai received NT$2.62 million (US$91,147) from the 816 project and passed the money to Yang Chih-heng (楊志恆), who Chiu said was involved in the money-laundering charge against Lee.