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Corporate tax cut offered for minimum-wage hike

By The Nation on Sunday.

Prime Minister Abhisit Vejjajiva has offered to cut the corporate income tax rate in return for private sector support for a big rise in the country's minimum wage.

Speaking at a seminar held by Federation of Thai Industries in Kanchanaburi, Abhisit said the ruling Democrat Party's policy was to raise minimum wages by 25 per cent over the next two years.

In Bangkok and nearby provinces, the minimum wage is currently Bt215 per day. Minimum wages in farther provinces are even lower.

Previously, Abhisit proposed that the country adopt a flat single minimum wage of Bt250 per day nationwide.

The premier said yesterday Thai minimum wages were still too slow when compared to other countries.

This resulted in a wide income gap among the population and social injustice. "I was told that higher wages should follow higher labour quality. It's a matter of chicken and eggs. I think we should make a big wage adjustment," he said.

Abhisit added that the government would consider lowering other costs for businesses and industries.

The premier won loud applause from FTI members when suggesting the corporate tax rate should be cut.

According to the prime minister, wage earners needed more income and security while the government would also ensure that its minimum wage policy did not hurt businesses and industries.

After surviving the no-confidence debate in Parliament, Abhisit is set to dissolve the House of Representatives. His offer to cut income taxes for industries in return for higher minimum wages is seen as one of his major policies for the upcoming poll.

-- The Nation 2011-03-20