PRESS RELEASE

29 April 2005

REP. ERIN TANADA FAVORS WAGE HIKE

Citing the unabated rise in oil prices and its impact on the majority of the Filipino people, Representative Lorenzo “Erin” R. Tanada, III from the 4^th district of Quezon Province called on the Philippine Congress to immediately pass a legislated wage increase to benefit all Filipino workers as a relief against the ravages of the ongoing economic crisis.

“Giant foreign companies and big local businesses should be required without delay to give the full P125 wage increase to their workers and employees as they continue to rake in enormous profits in the face of the Philippine economic crisis,” he said

“However, the overwhelming majority of Filipino businessmen and entrepreneurs, who are far smaller then those already mentioned, should be allowed to give the increase on a staggered basis. Perhaps a 75-25-25 schedule is workable. After all, they are barely surviving given the lopsided competition coming from giant foreign companies and the onslaught of cheap imports,” Tanada added.