Members of the Federation of Thai Industries (FTI) are concerned about the Move Forward party’s policy to increase the minimum wage to 450 baht/day.

The Move Forward Party’s proposal to increase the minimum wage to 450 baht per day has sparked mixed reactions from businesses and workers. While some see it as a way to boost the purchasing power of low-income earners and stimulate the economy, others fear it will lead to higher costs, layoffs and closures of small and medium enterprises (SMEs).

According to Move Forward, the current minimum wage is not enough to cover the basic needs of workers, especially in light of the rising cost of living and the economic fallout from the COVID-19 pandemic. The party argues that raising the minimum wage will boost domestic consumption, stimulate economic growth, and reduce social problems such as crime and drug abuse.

The party also cites international studies that show that increasing the minimum wage does not necessarily lead to job losses or inflation, as long as it is done gradually and reasonably. The party points out that Thailand’s minimum wage is lower than that of many other countries in the region.

Read the rest of Move Forward minimum wage increase policy under scrutiny on Thailand Business News