Business association urges next govt to be cautious about raising wages
The new government should consider the economic situation before raising the minimum wage to prevent pushing up costs in the private sector and reducing the number of jobs, the Thai Chamber of Commerce said on Sunday.
Chamber chairman Sanan Angubolkul said the private sector was uncertain about rising costs because of electricity prices and the Move Forward Party’s pledge to raise the minimum wage to 450 baht per day.
These two costs have a direct impact on entrepreneurs, Sanan said, adding that a minimum wage hike could reduce employment if it is raised too fast.
He said the chamber had advised the Move Forward-led coalition, which is vying to be the next government, that the minimum wage should be raised based on the economic situation, and pointed out the economy had not yet fully recovered from the pandemic.
He added that each province has a mechanism to consider wage hikes.
Sanan said he expects product prices to fall a little this year due to lower energy costs, especially global fuel prices.
He also advised the new government to stimulate the economy by promoting exports and tourism, and by attracting foreign investment.
Such efforts will help boost the confidence of Thai and foreign investors, while enabling the Thai economy to expand further without interruption, Sanan said.
