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THINK TANK: PH GOV'T LOANS WON'T BE SPENT WELL IF USED FOR CONFIDENTIAL FUNDS
AN ECONOMIC THINK TANK DEMANDS A MORE PROACTIVE FISCAL POLICY... AS THE PHILIPPINE GOVERNMENT INCREASES ITS FOREIGN BORROWING.
THE MARCOS ADMINISTRATION HAS ADDED ANOTHER 2 BILLION DOLLARS TO THE COUNTRY'S BALLOONING DEBT... TO HELP FINANCE ITS BUDGET.
BUT WITH THE WAY THE PROPOSED SPENDING BILL FOR 20-23 IS LOOKING RIGHT NOW, IBON FOUNDATION EXECUTIVE DIRECTOR SONNY AFRICA FEARS... THE ADDITIONAL LOANS WOULD NOT BE SPENT WELL.
(PAUSE FOR SOT)
SONNY AFRICA, EXECUTIVE DIRECTOR OF IBON FOUNDATION
"In a lot of ways, the budget is not an economic budget it's a political budget. The people need relief right now and the best signal the economic managers can send is to retract the statement they reaffirmed twice now. Ayuda is not a waste of money. It helps Filipinos in need and will stimulate the domestic economy more than pork barrel funds, more than confidential intelligence funds, and even more than, we argue, import dependent infrastructure which are leakages out of the domestic economy."
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TITLE: MARCOS URGED TO TAX THE RICH INSTEAD OF BORROWING MORE MONEY
ANOTHER GROUP BELIEVES, GOVERNMENT SHOULD JUST TAX THE RICH TO INCREASE ITS REVENUES... INSTEAD OF TAKING ON MORE LOANS.
THE FREEDOM FROM DEBT COALITION WARNS... INCURRING MORE DEBT MAY LEAD TO A REPEAT OF WHAT HAPPENED DURING THE TIME OF THE PRESIDENT'S FATHER, THE LATE DICTATOR FERDINAND MARCOS SENIOR.
(PAUSE FOR SOT)
RENE OFRENEO, PRESIDENT OF FREEDOM FROM DEBT COALITION
"Dapat tignan ng mga technocrats ang ating economy ngayon nakaupo sa isang slippery slope. Nung panahon ni Ferdinand Marcos Sr., nung 1970s, nung martial law, utang tayo ng utang. At sabi ng mga technocrat don't worry about the borrowing because the economy would grow. Pero anong nangyari? Sumabog yung krisis sa economy, 1980, '81. Sumabog yung krisis sa utang tapos nagkaroon tayo ng recession na naging depression at natuloy na sa EDSA 1."
(END)
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INAUGURAL BUMPER: WHY DID YOU AGREE TO JOIN THE MARCOS CABINET?
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EX-PH HEALTH SECRETARY MANUEL DAYRIT BACKS 2022 PRESIDENTIAL BID OF VP ROBREDO
AT LEAST ONE FORMER HEALTH SECRETARY IS BACKING THE 20-22 PRESIDENTIAL BID OF VICE PRESIDENT LENI ROBREDO.
DOCTOR MANUEL DAYRIT, WHO HEADED THE PHILIPPINE HEALTH DEPARTMENT DURING THE SARS OUTBREAK IN 20-02... CITED ROBREDO'S BRAND OF LEADERSHIP AND ATTENTION TO DETAIL... AS KEY TO GETTING THE COUNTRY OUT OF THE COVID PANDEMIC.
DAYRIT HAS BEEN HELPING THE OFFICE OF THE VICE PRESIDENT WITH ITS COVID INITIATIVES SINCE LAST YEAR.
BUT HE OFFICIALLY ANNOUNCED HIS ENDORSEMENT THIS MORNING, AS ROBREDO FURTHER FLESHED OUT HER HEALTH AGENDA TO THE MEDIA.
(PAUSE FOR SOT)
DR. MANUEL DAYRIT, EX-PH HEALTH SECRETARY
"Ang situation ngayon is that madami sa mga tao sa taas hindi nila naiintidihan yung detalye. Importante yun lalo na of secretary of health ka, kailangan naiintindihan mo detalye, alam mo paano kumikilos mga tao. Kailangan nakakawork across ka sa mga sectors so mabigat talaga yung work ng isang leader sa gobyerno. For me, nag-uumpisa yan sa pinakataas. I think si VP Robredo has the qualities for leadership in pushing the agenda forward. I will support VP Leni."
(RESUME READ)
FORMER HEALTH CHIEF DOCTOR ESPERANZA CABRAL WAS ALSO PRESENT IN ROBREDO'S BRIEFING.
BUT SHE SAYS, SHE'S WILLING TO LEND HER EXPERTISE TO OTHER CANDIDATES WORKING TO BUILD A PANDEMIC RESPONSE PLAN.
(PAUSE FOR SOT)
DR. ESPERANZA CABRAL, EX-PH HEALTH SECRETARY
"We are only too happy to join VP Robredo in crafting a good health agenda. But we are also open to other people who want a good health agenda and may need our help so we're not exclusive to VP."
(END)
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ING Bank Manila’s Nicholas Mapa shares insight on the Philippine Central Bank’s policy rates.
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INSIGHT: Marcos' economic agenda with Bob Herrera-Lim of TENEO
SPIEL
WELCOME BACK… YOU’RE STILL WATCHING INSIGHT.
PRESIDENT-ELECT FERDINAND MARCOS JUNIOR -- NOT KEEN ON RAISING TAXES… AS A WAY TO ADDRESS THE PHILIPPINES’ DEBT PROBLEM.
THE OUTGOING FINANCE DEPARTMENT HAD ADVISED THE MARCOS ADMINISTRATION TO IMPOSE NEW TAX MEASURES… TO HELP SERVICE THE COUNTRY’S DEBT -- WHICH HAS BALLOONED TO AN ALL-TIME HIGH OF NEARLY 13-TRILLION PESOS… DUE TO PANDEMIC BORROWINGS.
BUT AS MARCOS’S TAX CHIEF HAS SAID, THEY WOULD RATHER FOCUS ON MAKING TAX COLLECTION MORE EFFICIENT.
ONE THING HE DOES AGREE ON, HOWEVER, WITH FINANCE SECRETARY CARLOS DOMINGUEZ… IS KEEPING THE EXCISE TAX ON FUEL… DESPITE CALLS TO SUSPEND IT.
FOR HIS TAKE ON THIS -- AND THE ECONOMIC POLICIES MARCOS SHOULD UNDERTAKE IN HIS FIRST 100 DAYS IN OFFICE… WE ARE JOINED BY BOB HERRERA-LIM, THE MANAGING DIRECTOR OF TENEO.
GUEST:
BOB HERRERA-LIM
MANAGING DIRECTOR, TENEO
QUESTIONS:
OUTGOING FINANCE SECRETARY CARLOS DOMINGUEZ SAYS THE INCOMING MARCOS ADMINISTRATION SHOULD IMPOSE NEW TAXES, DEFER INCOME TAX CUTS AND SLASH CERTAIN VAT EXEMPTIONS TO GET THE PHILIPPINES OUT OF DEBT. BUT IT DOESN’T LOOK LIKE MARCOS AND HIS ECONOMIC TEAM WOULD FOLLOW. SHOULD THEY?
MARCOS’ PICK FOR BIR CHIEF SAYS IT’S ALL ABOUT MAKING TAX COLLECTION MORE EFFICIENT. BUT AT THE SAME TIME, SHE ALSO SEEMS TO BE TAKING A HANDS-OFF APPROACH ON THE ISSUE OF THE MARCOS FAMILY’S TAX LIABILITIES. WHAT MESSAGE DOES THIS SEND TO THE PUBLIC?
LIKE THE DUTERTE ADMINISTRATION, THE INCOMING PRESIDENT ALSO WANTS TO FOCUS ON PROVIDING AID TO SECTORS MOST AFFECTED BY RISING OIL PRICES, INSTEAD OF SUSPENDING FUEL EXCISE TAXES. WHAT’S YOUR TAKE ON THIS?
MANY PUBLIC TRANSPORT DRIVERS HAVE COMPLAINED OF NOT RECEIVING THE FUEL SUBSIDY THAT THE GOVERNMENT HAS PROMISED THEM. FOR ECONOMIST EMMANUEL LEYCO, THE COLLECTION OF FUEL EXCISE TAXES SHOULD BE SUSPENDED UNTIL THIS ISSUE IS IRONED OUT. DO YOU AGREE?
PRESIDENT-ELECT MARCOS HAS SAID THAT HE WANTS A REVIEW OF THE K-TO-12 PROGRAM AND THE IMPLEMENTATION OF THE RICE TARIFFICATION LAW. YOUR THOUGHTS ON THIS?
MARCOS’ NEDA CHIEF ARSENIO BALISACAN HAS ALSO SAID THAT HE WANTS A REVIEW OF BUILD BUILD BUILD PROJECTS IN THE PIPELINE AS HE HINTED THE POSSIBILITY OF CHANNELING SOME OF THE FUNDS TO EDUCATION, POVERTY REDUCTION. IS THIS A GOOD MOVE?
WHAT ECONOMIC POLICIES DO YOU WANT TO SEE CARRIED OUT BY THE MARCOS ADMINISTRATION IN ITS FIRST 100 DAYS?
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