Seven holidays will hurt economy: Lin

The China Post
Date: July 1, 2016
By: Yuan-Ming Chiao

TAIPEI, Taiwan — Premier Lin Chuan on Thursday justified the Cabinet’s decision to eliminate seven public holidays, saying that keeping the days would adversely affect stock market trading and the economy.

When making the decision to eliminate the seven days, the premier had considered the impact of the public holidays on the local bourse, according to Cabinet spokesman Tung Chen-yuan.

The Cabinet said it tried to overcome “complexities” including large differences between employers and workers, and said government ministries needed to explain their policies with empathy in order to reduce social tensions.

FSC Backs Cancellation

Financial Supervisory Commission (FSC) said it strongly supported the cancellation of the seven days, which would keep local trading aligned with international markets.     [FULL  STORY]