President Benigno Aquino III made an announcement on Tuesday regarding the demand of workers throughout the country for the P125 wage hike for the entire working class of Philippines. He said that it was “impossible” for him to favor such a measure amongst such low levels of economic activity in the country.
He said that such a dramatic measure will not damage one or two industries but will have larger adverse effects on the entire economy which can be expected to go into losses. He expressed so during his address to the nation at the Labor Day on Tuesday and explained that it is simply not feasible to invest P 1.43 trillion per year into wage hikes from an economy totaling a worth of P8 or 9 trillion every year. He also said that his vice president, he, and other cabinet members have also decided to skip the advance payments of their salary increases.
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