I support it because we have to diversify our ayuda program. The conventional track is to aid workers who have lost their jobs. This one helps workers from losing theirs. We have to invest more in payroll retention and job protection programs that help both employers and workers.
PSA data shows that our MSMEs are 99.5% of all registered business enterprises in the country, and they are responsible for 62.4% of the country’s total employment. When we aid a struggling MSME, our subsidy cascades down to the workers who will be able to keep their paycheck because we have helped avert a shutdown.
In such kind of a rescue, the government wins too because it will continue receiving taxes paid by labor and capital.
Our government should not come in only after an employee has become unemployed. It should proactively intervene so that companies employing workers would remain open and their jobs secure.
We’ll look into this proposal, which is a part of our National Employment Recovery Strategy, so that we in the Senate could also do our part and study potential funding sources for this important program to help MSMEs retain jobs. Thanks boss and God bless 🙏
(Press Release)
