While economies around the world have suffered from strict national lockdowns, Taiwan’s finances are seeing their rosiest days in years. But some people feel they’ve been left behind.
Protesters chanting slogans take to the streets outside Taiwan’s Presidential Office Building. These labor union representatives are here to announce a march, set to take place on International Workers’ Day on May 1. They say that unlike in most countries, the economy here in Taiwan remained stable last year and is expected to grow by 4.6% this year. The stock index also recently hit a 29-year high. But workers haven’t enjoyed the benefits.
Hou Chun-liang is President of the National Federation of Teachers Unions. He says over the last ten years, food prices have gone up 16%, while government tax receipts and the size of the economy have both grown by 36%. He asks the crowd if their salaries have grown that much and whether asking for a pay rise is really so unreasonable.
Labor unions are also worried about Taiwan’s labor insurance. They say it’s a ticking time bomb. The previous government cut business tax rates to stimulate a flagging economy.
One trade union head says now that the economy is growing, the government should raise the tax and use the money to increase labor insurance. He says since employers haven’t passed on the benefits to workers, the government should increase the rate of business income tax from 20% to 24%. That would raise around NT$60 billion (US$2.1 billion) a year to invest in labor insurance.
The march on May 1 will take 3000 workers past the Ministry of Education, the Legislature and the Cabinet Building.