NextGen Day

MANILA, Philippines — Senatorial candidates from the Partido Demokratiko Pilipino-Lakas ng Bayan (PDP Laban) praised President Rodrigo Duterte’s economic policies for resulting in a significant increase in the number of Filipinos finding work to support their families during the Covid-19 outbreak.

House Deputy Speaker Rodante Marcoleta, former Presidential Legal Counsel and presidential spokesperson Salvador Panelo, former Energy Undersecretary Astra Pimentel, actor Robin Padilla, multi-awarded broadcaster Rey Langit, former anti-corruption czar Greco Belgica, and former Agrarian Reform Secretary John Castriciones are the “Lucky 7” senatorial candidates of the ruling political party.

According to the preliminary February 2022 Labor Force Survey released by the Philippine Statistics Authority (PSA), there were an estimated 3.13 million unemployed people aged 15 and up, down from 4.19 million in the same month last year.

According to Secretary of State for Socioeconomic Planning Karl Chua, the month’s relaxed movement and mobility resulted in significant job creation.

After President Duterte signed Executive Order No. 166 in response to the Economic Development Cluster’s suggestion, contained in the 10-point policy agenda to accelerate and sustain recovery from the pandemic, the economy began to show indications of improvement.

“We arrived at this conclusion as a result of President Duterte’s timely response to the Covid-19 outbreak. “As a result, the unemployment rate maintained at 6.4 percent in February, down from 8.8 percent in February 2021,” Marcoleta said in a statement on Friday.

He also stated that the PDP-Laban bets will continue to pursue the Duterte administration’s policies and will focus on issues such as oil pricing, electricity, and water rates.

Langit, for one, believes the data shows that more can be done to better Filipinos’ lives.

“Recent modifications to some economic policies, such as the modified Foreign Investments Act and the Retail Trade Liberalization Act, will help produce more jobs for Filipinos by attracting more foreign investments to be put into the economy,” he said.

Belgica believes the government should investigate a flat tax structure and support venture capitalism to assist the economy recover from the pandemic.

The imposition of the same rate of tax across all income groups, as well as the elimination of other unneeded taxes such as value-added tax, is known as a flat tax (VAT).

According to a Forbes article from 2016, a total of 40 countries and jurisdictions, including Hong Kong, have successful flat tax regimes.

Belgica noted that the abolition of VAT will leave more money in people’s pockets at their choice and lower the cost of items.

Meanwhile, Pimentel urged that the government provide more money and low-interest loans to medium and small-scale enterprises, which are the most affected by the pandemic.

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