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MBC lauds PRRD’s focus on tax reform

The Makati Business Club welcomed President Rodrigo Duterte’s emphasis on tax reform program and education as well as other initiatives that will back the country’s strong economic growth.

“MBC welcomes the President’s emphasis on tax reform, education, infrastructure, and commitment to environmental protection including climate change initiatives,” MBC Chairman Edgar Chua said Tuesday.

In his second State of the Nation Address on Monday, President Duterte highlighted the need to enhance the quality and access to education and programs in order to accelerate the country’s human capital development.

“We have sustained investments in higher education and committed to the full implementation of the K-to-12 Basic Foundation Program. We have widened the reach of skills training and increased the number of out-of-school children and youth who have availed of the Alternative Learning System,” President Duterte noted.

The Chief Executive likewise urged the Senate to support the Comprehensive Tax Reform Program in full, after the House of Representative heeded his call to pass the bill.
He stressed that the CTRP is designed to be pro-poor and its benefits would be immediately felt by those in the bottom of the pyramid.
The CTRP will also fund the infrastructure program of the government as the administration targets to increase infrastructure spending from 5 percent of the country’s gross domestic product to 7 percent of GDP by 2022, valuing around P8 to P9 trillion.
Moreover, President Duterte stressed that his administration will pursue good relations with all nations anchored on independent foreign policy.
“We hope that as the country steers towards a more independent foreign policy we continue to value and develop relations with longstanding friends and allies,” Chua noted.