SENATOR CALLS FOR P1,500 MONTHLY SUBSIDY FOR 5M MINIMUM WAGE EARNERS

SENATOR Win Gatchalian reiterated his call for a P1,500 monthly subsidy for about 5 million minimum wage earners following a rapid increase in inflation last month, slower economic growth in the first quarter of the year, and forecasts of persistently high inflation. 

“Lest we forget, the country is still in a crisis amid all the political noise. Our people, particularly the vulnerable sectors, are suffering from high prices of basic commodities and need a little respite,” Gatchalian said.

He pointed out that the 7.2% inflation rate significantly eroded purchasing power. Using P1,000 in 2018 as the base value, purchasing power declined from P775.80 to P732.60 for the total population, and from P773.40 to P715.82 for the bottom 30% of the population.

Gatchalian said the subsidy would not only ease the financial burden on minimum wage earners but also boost domestic consumption and help stimulate the economy. 

“Malaking bahagi ng sweldo ng mga minimum wage workers ang napupunta sa pang-araw-araw na gastusin kagaya ng pagkain at pamasahe. Kailangan natin silang tulungang malagpasan ang krisis na patuloy nating hinararap,” he added.

The P1,500-per-month subsidy is one of the recommendations of the Senate PROTECT ad hoc panel. If approved, the subsidy is expected to cost the government P7.5 billion per month.