Co-sponsorship Speech: Senate Bill no. 2534 – An Act Providing For A One Hundred Pesos (P100.00) Daily Minimum Wage Increase For Employees And Workers in The Private Sector

Co-sponsorship Speech of Senate President Pro Tempore Loren Legarda on
Senate Bill No. 2534
“AN ACT PROVIDING FOR A ONE HUNDRED PESOS (P100.OO) DAILY MINIMUM WAGE INCREASE FOR EMPLOYEES AND WORKERS IN THE PRIVATE SECTOR”
7 February 2024

Thank you, Mr. President.

It is my privilege and honor to co-sponsor Senate Bill no. 2534 or “An Act Providing For A One Hundred Pesos (P100.00) Daily Minimum Wage Increase For Employees And Workers in The Private Sector”

Inflation has hurt the labor sector and most families do not find the means to make ends meet.
It is high time we increase the minimum wage across the board in the private sector to alleviate the financial strain on families. By ensuring that families earn a fair wage, we can address concerns about basic necessities. This will enable families to enjoy more fulfilling and stable lives.

This is a matter of economic justice and basic human dignity.

While the cost of living continues to rise, our laborers find it hard to keep up with it. This leads to individuals not being able to provide food on the table, not being able to study, not being able to afford healthcare, or not being able to live under their own homes.

By increasing the minimum wage, there is a chance to lift individuals out of poverty. There is a chance for them to be more productive, to pay more taxes, to spend more in our economy, and to be able to live a life that they deserve.

We cannot ignore the plight of our workers. They are the ones carrying this economy and we must protect them at all costs. We must not tolerate inequality and poverty. This is why we must pass this measure.

Thank you, Mr. President. Isang luntiang Pilipinas sa ating lahat!