PRRD Covid-19 key response for more jobs
MANILA – Senatorial aspirants of the Partido Demokratiko Pilipino-Lakas ng Bayan (PDP Laban) hailed the economic policies enacted by President Rodrigo Duterte, resulting in a marked improvement in the number of Filipinos finding jobs to support their families amid the crisis. Covid-19 pandemic.
The ruling political party’s “Lucky 7” senatorial candidates are Vice Speaker of the House Rodante Marcoleta, former presidential legal adviser and presidential spokesman Salvador Panelo, former energy undersecretary Astra Pimentel, actor Robin Padilla, award-winning broadcaster Rey Langit, former anti-corruption czar Greco Belgica, and former Land Reform Secretary John Castriciones.
Based on the February 2022 Preliminary Labor Force Survey from the Philippine Statistics Authority (PSA), an estimated 3.13 million unemployed workers aged 15 and over were unemployed, a decrease of 1.06 million compared to 4.19 million the same month last year.
Socio-Economic Planning Secretary Karl Chua said relaxed movement and mobility had led to significant job creation during the month.
The economic movement showed positive signs after President Duterte issued Executive Order No. 166 in line with the Economic Development Group’s proposal, embodied in the 10-point policy agenda to accelerate and sustain post-pandemic recovery.
“We have achieved this development thanks to President Duterte’s correct response to the Covid-19 pandemic. This is why the unemployment rate in February remained at 6.4%, lower than 8.8% in February 2021,” Marcoleta said in a press release on Friday.
He added that the PDP-Laban bets will continue to implement the measures of the Duterte administration and will focus on issues concerning oil prices and electricity and water tariffs.
For his part, Langit said the data showed more could be done to improve the lives of Filipinos.
“Recent amendments to some economic measures will help create more jobs for Filipinos, such as the Amended Foreign Investment Law and the Retail Trade Liberalization Law, to attract more foreign investment to inject in the economy,” he said.
Belgica said the government should explore the flat tax system and promote venture capital, which could help revive the economy after the pandemic.
Flat tax means imposing the same percentage of tax on all income brackets and eliminating other unnecessary taxes such as value added tax (VAT).
According to a 2016 Forbes report, a total of 40 countries and jurisdictions, including Hong Kong, have different flat tax systems that have worked well.
Belgica pointed out that this will leave more money in people’s pockets at their discretion and lower the cost of goods with the removal of VAT.
Meanwhile, Pimentel has offered to increase government support for small and medium-sized industries, which are hardest hit by the pandemic, through capital and low-interest loans. (PR)