Published by Global Banking & Finance Review®
Posted on January 27, 2025
2 min readLast updated: January 27, 2026
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Taiwan's President Lai Ching-te calls for unity amid a budget standoff with the opposition, who cut T$207.6 billion from the proposed budget.
TAIPEI (Reuters) - Taiwan President Lai Ching-te appealed on Monday in his Lunar New Year message for harmony between the ruling and opposition parties, amid a standoff over the opposition slashing this year's budget.
While Lai won the presidential election last year, his Democratic Progressive Party lost its majority in parliament, giving the opposition legislative control that includes spending proposals.
Last week the opposition, citing a need to cut waste, passed spending cuts the government says amount to T$207.6 billion ($6.33 billion) or 6.6% of the proposed total budget, for central government spending this year.
The government is considering asking parliament to reconsider the budget, which includes defence spending, though the opposition has not shown signs of backing down.
In his message ahead of the Lunar New Year, which starts on Wednesday, Lai said harmony was needed, though he did not directly mention the budget or other disputes with the opposition.
"There is a saying that in a harmonious family, all things prosper," he said in the message carried on his social media accounts.
"The same goes for our nation. I look forward to the ruling and opposition parties being in harmony and our society uniting. Let's work together to help our nation continue to make great strides."
Lai, who Beijing denounces as a "separatist" given his rejection of the country's sovereignty claims, did not extend greetings to China, which last year staged two rounds of major war games around the island.
"I also want to thank everyone for your hard work over the past year. Together, we overcame many challenges, helping Taiwan continue to progress and develop, as well as play an even more important role on the global stage," he said.
This year, Lai said he will continue to promote development and spur economic growth.
"I will also be resolved in the missions of ensuring that the nation endures and progresses, safeguarding the lives and property of the public."
($1 = 32.8170 Taiwan dollars)
(Reporting by Ben Blanchard; Editing by Raju Gopalakrishnan)
The main topic is Taiwan's budget standoff between the ruling and opposition parties.
The opposition passed spending cuts amounting to T$207.6 billion from the proposed budget.
President Lai emphasized the need for political harmony and unity in his Lunar New Year message.
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