After the British finance-related Hao Ting announced a large-scale tax cut plan earlier, it once caused financial market turmoil. In an interview on Thursday (13th), he said that the government’s stance on stimulating economic growth through tax cuts remained unchanged, and that he and Prime Minister Zhuohuisi would not leave office. However, Guan Haoting confirmed on Friday (14th) that he had been dismissed from his post, and his vacancy was filled by former foreign minister Hou Junwei. Zhuo Huisi will announce the relevant decision later on the same day.
Guan Haoting published an open letter to Zhuo Huisi on Twitter, saying that he had accepted the request of the other party to “leave him aside” and that he no longer served as the finance minister. He also pointed out that Zhuo Huisi asked him to be the finance minister that day, and he knew that the current situation was very serious. It was difficult. At the end of the letter, he said that they had been colleagues and friends for many years and believed that the other party’s vision was correct. Reigning only 38 days, he was Britain’s second-shortest-lived Chancellor of the Exchequer following World War II. Iain Macleod, who had been in office even shorter than him, died of a heart attack 30 days following taking office in 1970. Since 2019, the UK has changed the Chancellor of the Exchequer four times, including the former Chancellor of the Exchequer Zha Xueli, who became the third shortest-lived Chancellor of the Exchequer with a record of 63 days in office.
Guan Haoting earlier turned the page and retracted the proposal to abolish the 45% top income tax rate. When he was interviewed during the annual meeting of the International Monetary Fund in Washington on Thursday, he admitted that there was some turmoil following the tax cuts announced last month, but the government did not. Changed stance; he is now focusing on releasing details of the plan at the end of the month, and the impact on public finances.
It is alleged that the ruling Conservative Party intends to resign Guan Haoting or oust Zhuo Huisi. When Guan Haoting was asked if he and Zhuo Huisi were still in power this time next month, Guan Haoting replied: “Absolutely, 100%.”
