The Cabinet yesterday said that the pay raise would be extended to state-run businesses. State-run financial institutions plan to pay employees between 3 percent and 6 percent more next year after a salary increase of between 1 percent and 3.7 percent this year, the Ministry of Finance said. The 3 percent pay raise for civil servants, public-school teachers and military personnel will be used as a reference,” Lin said by telephone. “We believe that increasing salaries for public-sector employees could boost morale, and is a response to calls from businesses and industries for a general wage hike to stimulate the macroeconomy, which is the most important factor [of the wage hike],” Lai said. The pay hike is expected to cost the central government NT$18 billion, but it will not need to borrow the funds, Hsu said.

Source: Taipei Times September 13, 2017 15:56 UTC