During the Japanese occupation, the colonial government issued what Filipinos called “Mickey Mouse money” (or play money), since the money was almost worthless. (the Philippine peso back then was overwhelmingly devalued).
Now, the Arroyo administration, in its last two minutes, is giving out another “Mickey Mouse money” to workers. It recently announced the passage of the P22 wage increase for Metro Manila workers. That means a P20 bill plus two one peso coins. In real terms, however, it practically means nothing. P22 can’t do so much to bridge the yawning gap between eroded incomes and rising cost of living.
>Independent think-tank IBON Foundation labeled the P22 wage hike in NCR as the smallest in real terms under the Arroyo regime.