Isko: Government loss on fuel, electricity tax cuts could pay off
MANILA, Philippines – The government can afford to lose billions of pesos through drastic 50% tax cuts on fuel and electricity as long as the lost revenue benefits the people, the mayor of Manila said on Saturday Francisco “Isko Moreno” Domagoso.
“What if the government loses money when it gets back to the people? The government can take a step back. It’s time we put people first, ”said Aksyon Demokratiko flagship during a pre-campaign getaway to Caloocan City.
Domagoso dismissed concerns from government economists about the tax consequences of his proposal, as he continued to woo voters by promising a 50% cut in taxes on petroleum products and electricity in his first year s ‘he won the presidency, a campaign engagement he first made. earlier this month.
“The government can give in. It is not the government’s job to get rich but to improve people’s lives, ”the mayor said in Filipino, eliciting cheers in a stadium that is half full of people due to social distancing rules.
Last week, the finance ministry said the national government would lose 131.4 billion pesos next year if excise fuel taxes were suspended in response to rising oil prices.
But Domagoso argued the government could afford a loss of 130 billion pesos if it meant improving the lives of struggling Filipino families during the pandemic.
“When oil prices are high, transport prices are high. When oil prices are high, food prices are high, ”he said.
“When oil prices are high, electricity prices are high, unless you’re like me who is a part-owner of Meralco (Manila Electric Co.),” Domagoso joked, recalling the time he was there. lived as an informal settler with an illegal connection. to the grid.
“Where can I find a house with electricity without having to pay bills? It’s the life of a squat, ”said the mayor.
Domagoso said he made no claims about his abilities “but for me government is simple, it’s for the people”.
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