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Saturday, March 25, 2023

Wage hikes could harm economy

Parties urged to be more realistic

Protesters hold a sign saying ‘Prices of Goods Go Up, Wages Down’ as they demand a hike in the daily minimum wage for workers outside Government House in July last year. (Photo: Apichart Jinakul)

Political parties are being urged to stop wooing voters by promising them unrealistic leaps in daily minimum wage rates which many experts warn will do more harm than good to the country’s economic system.

These kinds of populist policies are popular among parties because they require no funding from the government side as only employers will be forced to foot the bill up to a level imposed onto them by politicians, said Tanit Sorat, vice-chairman of the Employers’…

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