Speaker Ferdinand Martin Romualdez meets with labor leaders to discuss their plea for a legislated wage hike, aiming for a PHP 200 increase to provide immediate economic relief while considering the impact on businesses.
Speaker Ferdinand Martin G. Romualdez engaged in a cordial discussion with leaders representing major labor groups in the Philippines on Tuesday night. The meeting, held at the Social Hall of the Speaker's Office in the House of Representatives, focused on the labor groups' plea for a legislated wage hike. Accompanying the labor leaders were Deputy Speaker and TUCP Partylist Rep. Raymond Democrito Mendoza and Tingog Partylist Rep. Jude Acidre.
Romualdez stated that the House of Representatives is prioritizing deliberations on a proposal to increase the minimum wage to 200 Philippine pesos (PHP) per day. This measure aims to provide immediate economic relief for workers while considering the sustainability of micro, small, and medium enterprises (MSMEs).Romualdez emphasized the House's intention to enact a legislated wage hike that exceeds the 150 PHP increase demanded by the labor sector. He explained that while lawmakers are aiming for a substantial salary adjustment, they are also carefully analyzing its potential impact on the viability of companies, particularly smaller businesses. The Speaker stated that the priority is to craft a wage increase measure that satisfies the needs of workers while simultaneously ensuring the support of businesses during this transition. He stressed the importance of protecting MSMEs, the backbone of the Philippine economy, while addressing the needs of workers. He highlighted that the House aims to implement wage subsidies and other mechanisms to prevent any negative repercussions on businesses or workers during the transition. Despite concerns raised by the business sector, Romualdez pointed out that a successful wage hike law has historical precedent. He cited the Wage Rationalization Act of 1989, which successfully increased wages without causing widespread inflation or business closures. He expressed confidence that with careful planning and collaboration with all sectors, the House can implement a wage increase that benefits both workers and the economy. On Tuesday, Romualdez met with labor leaders and representatives from major labor groups to gather their input on the proposed wage hike. This meeting followed the Trade Union Congress of the Philippines (TUCP)'s appeal to President Marcos to prioritize the proposed 150 PHP daily wage hike for private sector workers. TUCP, the largest labor organization in the Philippines, also urged the legislature to temporarily suspend excise taxes on petroleum products to mitigate the impact of inflation on workers' take-home pay and alleviate the cost-of-living crisis affecting Filipino families. The TUCP Partylist emphasized the urgency of the situation and called on the House of Representatives to act swiftly, stating that every day of delay exacerbates the uncertainty and suffering of working families
MINIMUM WAGE LABOR UNIONS PHILIPPINE HOUSE OF REPRESENTATIVES ECONOMIC RELIEF INFLATION BUSINESS IMPACT
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