Philippines Weighs 200-Peso Wage Hike Amid Business Owner Concerns

Concerns Rise in Philippines Over Proposed Wage Hike: Business Owners Fear Price Increases and Closures The Philippines is grappling with a potential 200-peso wage increase, a proposal that has sparked anxieties among business owners. Small businesses, in particular, fear the economic ramifications, potentially leading to price hikes and closures. The GMA Integrated News report highlights these concerns, featuring interviews with minimum wage earners and business owners. "It's difficult," says Jerry Lumadag, a minimum wage earner, expressing his worry about the impact of rising prices on his family's budget. Meanwhile, Nelson Chua, a small-scale business owner, explains that absorbing the wage increase might necessitate price adjustments or even business closure. Malacañang Palace has announced it will study the potential economic consequences before making a decision. The Senate has also passed a lower wage hike of 100 pesos, creating a need for compromise between the House and Senate versions. Senator Joel Villanueva's comments indicate a potential presidential veto if the higher amount is passed. However, the proposed increase represents the largest single wage hike in recent history, reflecting the government's ongoing efforts to improve the lives of Filipino workers.