Impact of the PHEU THAI PARTY's policy to increase the minimum wage to 600 baht by 2027

Abstract

      Policy to increase the minimum wage to 600 baht by 2027 of the Pheu Thai Party Labor in the industrial and service sectors Because it will help increase income for minimum-wage workers to have better living conditions. Reduce income inequality and stimulate the domestic economy. The minimum wage will be raised from 336 baht to 600 baht within 4 years, starting in steps. In the first year, it will increase to 375 baht; in the second year, it will increase to 425 baht; in the third year, it will increase to 475 baht; and in the final year, it will increase to 600 baht. This policy has received support from many people. This is because they want to have an increased income in order to support their family and live a decent life. It is also a policy that will help stimulate the domestic economy. Workers will have more income, allowing them to spend more on various goods and services, which will have a positive impact on the business sector and the economy as a whole. However, this policy has some opposition from some entrepreneurs. They fear that it will increase production costs. and may affect trade competition. It has the potential to raise inflation. The minimum wage adjustment will be carried out gradually. To give entrepreneurs time to adjust, and the government will ensure that inflation does not rise. It will use various measures, such as controlling the prices of essential goods and services.