Holiday economics
Philippine holiday economics refers to the policy in the Philippines introduced by President Gloria Macapagal Arroyo to move the observance of certain public holidays to the nearest weekend.
Background
2007–2011: Introduction and temporary suspension
The Executive Order 292, or the National Administrative Code of 1987 defines several of the public national holidays in the Philippines. There are two types of public holidays in the Philippines – regular and special non-working holidays. Schools in all levels suspend classes regardless of the public holidays while employers may or may not require workers to report to work.Those who would have report to work if not for the holiday but did not render work are paid their regular rate. Employees required to work due to their nature of their work are paid extra of their daily rate and cost of living daily allowance depending if the holiday is a regular or a special non-working holiday. If a holiday falls on a non-working day for the employee, the employee is not compensated.
President Gloria Macapagal Arroyo signed Proclamation No. 1211 in January 2007 declaring Independence Day which falls on June 12 a working holiday, and the day before a non-working holiday – effectively moving the holiday. However rites organized by the government remained observed on the actual date.
She would sign into law Republic Act 9492 the Holiday Economics Law on July 24, 2007 which allows the observance of otherwise fixed public holidays except for New Year's Day on January 1, All Saint's Day on November 1, Christmas Day on December 25, and the last day of the year, December 31 to the nearest Monday. The Senate bill of the law was introduced by Senator Joker Arroyo. The measure was enacted in a bid to boost domestic tourism.
Arroyo's successor, Benigno Aquino III would retain the policy in his first few months in office until Proclamation 82, signed on December 20, 2010, became effective on January 2011 resulting from an opposition of the business sector to the policy due to extra costs associated on paying workers extra wage on public holidays and the president has the "prerogative" to move or retain the movable holidays specified on Republic Act 9492, tempoarily suspending it for 11 years until the administration of Bongbong Marcos on November 11, 2022.