Reported on: May 10, 2012 10:44 AM
Reported in: International
TAIPEI, Taiwan, May 10 (AP/UNB) - Taiwan's Cabinet has resigned in a formality before President Ma Ying-jeou starts his second four-year term on May 20.
Ma was re-elected in January.
Premier Sean Chen led the resignations Thursday. He and most of his colleagues are expected to be reappointed after Ma's second term begins.
Local media say the finance, defense and foreign ministers will keep their jobs but Economics Minister Shih Yen-hsiang may leave amid public anger over fuel and utility price increase.
Ma has pledged reforms in his second term to narrow the gap between rich and poor. Among his proposals is a capital gains tax on stock market and real estate transactions.