Ho's appointment surprised many people, including the appointee himself. "Actually, it all came very suddenly for me," Ho admitted in a Chinese-language newspaper interview.
"In fact, I didn't know which post I was going to take in advance, nor did I mind which it would be, since the reason I returned was to do something for the country," noted Ho.
Ho, 54, holds a doctorate in economics from the University of Michigan and currently heads the NTU Department of Economics. At first he chose to remain in the United States after graduation, serving as a senior economist at the Internal Revenue Service of the U.S. Treasury Department, and participating in the tax reform program launched by President Clinton's administration.
He also joined the Brookings Institution, a leading U.S. think tank, where he concentrated on the study of estate, inheritance and gift tax reform.
After his return to Taiwan in 2003, Ho joined the government's financial reform committee and was a principal advisor to Finance Minister Lin Chuan, who headed the nation's tax reform program at that time. Ho's strong academic background and professional expertise on taxation and national treasury made him instrumental to the formulation of the country's tax reform policy, and should assist him to carry out his new government duties.
Five months ago, the Office of the President sought Ho's advice on inheritance and gift tax reform. He responded with a proposal to adjust marginal rates, integrate the tax bases in the short term and merge the two tax schemes in the long term, thus establishing a lifelong wealth-transfer system. The government is still evaluating the reforms' feasibility and drawing up measures for their possible implementation.
Analysts suggest that Lyu resigned abruptly due to his poor performance at maintaining control over state-owned banks, particularly in his controversial handling of the recent boardroom reshuffle at Mega Financial Holding Company. At the press conference, Cheng emphasized that Su had tried to persuade Lyu to stay, but to no avail. Lyu will become a minister without portfolio.