Metro Manila (CNN Philippines, November 18) — Presidential hopefuls on Thursday touted economic recovery plans before a major gathering of businesses in a bid to gain their support in next year’s elections.
The annual conference organized by the Philippine Chamber of Commerce and Industry (PCCI), whose members comprise most businesses in the country, heard promises that ranged from providing financial assistance to help small businesses, boosting the health care system, and social reform, among others. The speeches were pre-recorded.
Manila Mayor Isko Moreno said he would devote the first two years to strengthening the national health system battered by the COVID-19 pandemic. He also promised better facilities to address malnutrition and mental health issues.
The mayor said he will call on local governments to take advantage of higher share in tax proceeds in line with a Supreme Court ruling on internal revenue allotment. He added that local officials should use the additional funds to help micro, small, and medium enterprises (MSMEs) obtain credit from government financial institutions (GFIs).
The so-called Mandanas ruling of the Supreme Court stemmed from a petition filed by Batangas Governor Hermilando Mandanas and the late Bataan Governor Enrique Garcia, Jr. It ruled that local governments are entitled to a share of all national taxes and not only from the Bureau of Internal Revenue.
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Senator Bong Go vowed access to credit and financial aid for distressed businesses. He added he will direct GFIs to expand credit programs for affected MSMEs. He mentioned in particular the Pondo sa Pagbabago at Pag-asenso microfinancing program of the administration.
In broad strokes, he promised to enhance the National Rice Program, Rice Competitiveness Enhancement Fund, and other programs for farmers and fisherfolk, and introduce tax reforms.
Senator Ping Lacson said he will push for free COVID-19 testing.
The lawmaker presented strategies to help MSMEs recover, including comprehensive and targeted stimulus packages, eviction and foreclosure moratorium, bigger loans with lower interests from GFIs, and employee retention incentives.
Senator Manny Pacquiao said he will push for the creation of more jobs, free housing for informal settlers, and better health care services to promote economic recovery. He added he wants zero-interest loans for small businesses to generate work opportunities.
Pacquiao vowed to intensify revenue collection to do away with incurring more debt, while also improving non-tax revenues.
Vice President Leni Robredo proposed more support for health care workers and accessible COVID-19 testing. She also vowed to strengthen local health services.
Robredo said she wants more investments in local infrastructure, in particular those supporting the agriculture sector, along with MSMEs. She also said she wants more credit for MSMEs through government guarantee programs, alongside a stimulus package worth at least ₱100 billion for capacity building.
