Bayan Muna Rep. Carlos Isagani Zarate assailed the argument that wages should not be raised because it is inflationary “as anti-workers, unjust, erroneous.”
On the contrary, Zarate said “raising wages nationwide is good for the working people and for the economy as whole.”
“It is blatantly anti-worker and unjust to deny wage hikes because of the allegations that it will jack up prices. On the contrary prices have already been increasing for years but wages are stuck at some P500 in Metro Manila and worse P300 plus in many provinces even if the cost of living already skyrocketed to P1,200 for a family of six, Zarate asserted.
Zarate stressed that “demands for P750 national minimum wages are only meant to recover the eroded purchasing power of workers and employees due to rising price caused by monopoly overpricing, TRAIN and other factors.”
“It is erroneous to insist that nationwide wage hikes is inflationary. Increases in wages will lead to decrease in profits of capitalist but won’t affect the basis of price which is the average labour time embodies in commodities, said Zarate.
Zarate emphasized that “to say that nationwide wage hikes may jack up prices is one-sided and half-lie.”
“Nationwide wages hikes may temporarily affect the prices of some commodities because of the increased purchasing power of workers and employees but this will be very temporary as profit-motivated capitalists will move to increase their production to meet the increased demands. Sooner than later, supply will be at par or may even exceed demands.
Moreover, nationwide wage hikes will spur more production and create jobs as capitalists go where demands are high. (PR)