Rep. José María Clemente “Joey” Salceda is proposing a P45-billion wage subsidy program for millions employed by small and medium enterprises (SMEs) and for freelancers as other lawmakers suggest tapping debt payments to help them. The wage subsidy will be given for three months, he added. If approved, the proposed aid would be distributed by the Social Security System, with assistance from the Bureau of Internal Revenue and the Department of Labor and Employment, for formal economy workers, Salceda said. For freelancers, Salceda said there could be an open-application window similar to CAMP —Covid Adjustment Measures Program — of the Labor department. Debt service moratoriumIn another suggestion to help SMEs, House Deputy Minority Leader Rep. Carlos Isagani Zarate and Bayan Muna party-list Chairman Neri Colmenares called on government to consider a debt service moratorium.

Source: Manila Times April 11, 2020 16:29 UTC