Minimum Wage to Reach 30,000 NTD Next Year: Federation of Industries Supports Pay Raises, Urges Government to Support Traditional Industries

The Federation of Industries held a press conference on October 24, 2024, to release its 2026 white paper. Ahead of the review of the minimum monthly wage for next year (2027), where Premier Cho indicated the wage would exceed 30,000 NTD, Federation Chairman Pan Jun-Rong stated that the industry would support wage increases as long as there are profits. He noted that the government's tax revenue has increased due to the strong performance of AI and semiconductor industries, and proposed sharing corporate profits with employees.

Pan emphasized that government surplus funds should be shared by all citizens, citing President Lai Ching-te's announcement of a 10,000 NTD cash handout to all citizens next year (2025). He also suggested that sharing corporate achievements with employees and society could create a 'win-win-win' situation.

However, Pan expressed concern that Taiwan's industries are overly focused on technology and semiconductors, highlighting the challenges faced by traditional industries, such as labor shortages and low wages. He urged the government to strengthen support for traditional industries, particularly noting the current slump in the construction industry and suggesting a shift in resource allocation.

Regarding energy policy, Pan proposed adopting a diversified energy policy to reduce concerns about power supply. He suggested amending the Energy Management Act to allow large power users to set up their own power plants and proposed restarting the second and third nuclear power plants to ensure stable and diversified energy development. Pan stressed that 'industry is not afraid of challenges but fears instability' and hoped the government would review national energy policies.

The Federation of Industries annually proposes a white paper on government policies. This year's white paper addresses three key issues: labor shortages, industrial transformation, and energy policy. The federation's proposals are highly regarded by the government, with 75% of last year's recommendations being adopted, making it an important dialogue platform between the administrative departments and the federation.