William Lai Ching-te

Taiwan Premier Lai Ching-te on Thursday said he will resign on Friday, following his party’s setback in local elections in November.

Lai, however, expressed his appreciation to the legislature, which completed the review of his budget proposal.

“The budget proposal has been approved. The time is up.

“I will hold meeting tomorrow before my Cabinet members resigns en masse,’’ Lai told journalists before he officially expressed his appreciation to lawmakers at the parliament building.

He said President Tsai Ing-wen has agreed to his plan to leave and would announce the successor.

According to local media, Lai’s possible successor could be former premier Su Tseng-chang of the pro-independence ruling Democratic Progressive Party (DPP).

Lai’s move is regarded as a political move to shoulder responsibilities in the wake of the ruling party’s setback in local elections in November.

Tsai, two months ago, immediately resigned as chair of the DPP after it won just six out of 22 local authorities while the China-friendly Chinese Nationalist Party (KMT) took 15 cities and counties.

Lai took office on September 8, 2017, unveiling a reshuffled cabinet designed to boost Tsai’s declining popularity.

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