What Would a Progressive Wage System Look Like?

Beyond the Ballot Box · Jun 6, 2023 · 34m

Minister of Economy, Rafizi Ramli recently said that the government is looking in principle at the policy for a progressive wage system in Malaysia and the discussion and engagement process has begun with various stakeholders. The minister said this is in line with the 12th Malaysia Plan’s aim for the compensation of employees as a percentage of GDP to hit 40%, which is an increase of roughly 3-6%. In simple terms – a larger share of the pie of companies’ revenue will go to its workers. For perspective, the compensation of employees as a percentage of GDP is about 50% in Australia and South…