Pulitika2010

Everything you've wanted to know about RP politics, but were afraid to ask.

GMA News Special Report: Manny Villar’s Tondo roots were ‘definitely middle class’

Posted by akosistella on April 26, 2010


    Share

According to Manuel Villar Sr.’s salary record in 1961 as a rising official in the then-Department of Agriculture and Natural Resources, he was earning P448 a month or P5376 a year. It does not sound like much but the value of money was much different then. The minimum wage was four pesos a day, and an eight-ounce soft drink was 10 centavos or less. The elder Villar was earning an average of P22 a day.

Significantly, according to a household income survey in 1961 conducted by the National Statistics Office, the average annual individual income in that year was only P1,105. In other words, Manny Villar’s father was earning nearly five times the average income at the time.

Using the consumer price index from both 1961 and 2009 available on the National Statistics Office web site, we calculated the equivalent of P448 in 1961 to be P35,392 in today’s money, Manuel Villar Sr.’s monthly salary when adjusted for inflation. His rank in the civil service then was Budget Officer III.

Even in 1957, when the candidate says the family was much poorer, his father was earning P3960 a year at a time when the average individual income was P924 per annum.

via GMANews.TV.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: