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NewsTranscript
00:00We will talk about the increase in wages following the approval of the 200 pesos across the board daily wage hike in the House Committee on Labor and Employment.
00:08We will get an update from the Employers Confederation of the Philippines President, Serio Ortiz Luis Jr. Good morning and welcome to Balitang Hali.
00:17Good morning to you and to all the listeners of Balitang Hali.
00:22What is your first reaction to the approval of the 200 pesos increase in wages across the board daily wage hike in the House Committee on Labor and Employment?
00:27Can this be given if it becomes a law?
00:30It's a bit saddening because what they are doing is out of context.
00:37You know, people don't understand, it's good to have a high salary, but out of the 52 million in the labor market, only 16 percent are affected by the legislative wage increase.
00:56Actually, only 10 percent are the minimum wage earners.
01:01Now, when they are crossed the board, including the general manager and the president, including VIVA, it became 16 percent.
01:11Out of 52 million, it's not 60, it's 16.
01:15Now, it's good to have a high salary. People will be happy.
01:20But what about the 84 percent who are not affected by the increase?
01:27What about the farmers? What about the freezer folks?
01:33What about the tricycle drivers, jeepney drivers, and those in the informal sector?
01:39There are no more employers. Who will increase their salaries?
01:44Yes.
01:45Are we going to rely on the government?
01:47You know what the companies are doing.
01:50When there's a legislative wage, they don't have to worry about their sales.
01:58Yes.
01:59What they will do is increase the price if they can afford to buy people.
02:04If not, people will be reduced.
02:07According to the Trade Union Congress of the Philippines, the last time there was a legislative wage hike was in 1989,
02:14when the salary increased to 40 percent.
02:16But there was no massive inflation and there was a wide closing of businesses.
02:21Your reaction to that statement?
02:23You know, whoever is an economist, they will tell you that the situation was different 35 years ago.
02:32The minimum wage in the Philippines was low.
02:38Second, our inflation rates were different then.
02:46You cannot compare it.
02:49It's like what you said yesterday.
02:52That's what's happening.
02:54You cannot do that.
02:57After that, the Regional Wage Board, because they noticed that there's a signal that the system cannot do that because it's becoming political.
03:15It's becoming emotional.
03:18Especially now that the election is near.
03:21They're not talking about the merit.
03:25They're just talking about their perception of the popular feel.
03:30The Regional Wage Board, they're the ones who set the price.
03:35What you're saying is that you're not against the increase of wages, but it should be targeted to those in need.
03:45This is the problem.
03:48We don't learn because we don't live on our own.
03:54We are not members of the farmers, the office of the government, the micro.
03:58You know, the 16 percent affected, 90 percent are micro companies, employers.
04:06Eight percent are small.
04:09One percent are medium.
04:11Less than one percent are large.
04:14That's what I'm saying.
04:15You cannot do that.
04:16It's just a decrease in income.
04:17You're just complaining.
04:19But in reality, the micro, the 90 percent, even if it's a large number,
04:27the salary in their pocket or in their pocket is a problem.
04:34Those who are living on their 13th month pay, there are many who are looking for a place to live on their 13th month pay.
04:42You're increasing their salary that much?
04:45You mentioned the informal sector.
04:48Do you have an idea on how to help them?
04:51What did you say?
04:52You mentioned the informal sector, that they cannot benefit from this.
04:55But do you have an idea on how to help them?
04:58If you're going to help P200, P42 million is P8.4 billion a day.
05:14That's it.
05:16Okay.
05:17How much is that?
05:19Put it in P100, P44 billion.
05:21That's P130 billion a month.
05:25When COVID-19 hit, the government helped.
05:28How much is that? P10 billion.
05:30That's all. P2 billion is nothing.
05:33That's just for one or two days.
05:36The real problem is, they need to reduce their salary.
05:46Because our salary here is high, but we have high billing here.
05:56Second, the support in other countries, their requisites are low.
06:06The red tape is low.
06:12So the investors, what we need to do is help.
06:17With a wide price, get investments to increase the number of jobs.
06:22That's the remedy.
06:23We cannot legislate that.
06:25Because it's like what they say, abrogate the law of supply and demand.
06:30It's a long discussion.
06:32But we will go to the plenary to discuss this.
06:34Let's wait and see what will happen.
06:36Thank you very much for your time this afternoon.
06:39The Employers' Confederation of the Philippines President, Serio Ortiz Luis, Jr.