Economic managers warn against P150 wage increase (www.gmanetwork.com)

submitted 1 year ago by decadentrebel@lemmy.world to c/philippines@lemmy.world

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“Obviously, we understand what the problems are — high cost of energy, poor infra, high cost of business,” he said during the briefing of the Development Budget Coordination Committee (DBCC) with the Senate. We’re trying to address those, but what I’m trying to say is that if we (do) address the problem of low incomes by raising the wages by legislative (measures)… then these other factors that are required by investors to come will happen much later,” the NEDA chief added.

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[-] k5nn@lemm.ee 4 points 1 year ago* (last edited 1 year ago)

Why does it feel like a false dichotomy? if they want to attract investors while enacting both the short term solution of higher wages and long term solution of lowering costs why not give said investors a tax incentive that way they have a strict timeframe to lower the costs of doing business here and at the same time appeasing the populace and at the same time without causing inflation due to the increase in money supply

[-] counselwolf@lemmy.dbzer0.com 3 points 1 year ago

Aren't there a lot of studies stating raising minimum wage is better for the citizens and the economy as a whole (especially if the minimum wage hasn't increased for a long time)?