As Taiwanese businesses are unwilling to increase wages for the want to hold onto their profits, they are also complicit in causing themselves to lose demand, and therefore their business sustainability. The government needs to act.
The News Lens
By: Justin Hugo
The Basic Wage Deliberation Committee has proposed to increase Taiwan’s minimum wage from NT$21,009 a month this year to only NT$22,000 (US$725) next year, after a meeting earlier this month.
The committee, which is made up of representatives from the government and businesses, as well as from the labor unions and academia, meets every year in the third quarter to discuss whether to raise the minimum wage for the following year. The committee comes under the Ministry of Labor (MOL).
The proposal to raise the minimum wage will now go to the Executive Yuan for its approval before going into effect. [FULL STORY]