The government’s accelerated move to impose rice tariffs and lift quantitative restrictions on rice imports is touted to ease inflation. It comes with a heavy price in the long-term, however, as it puts in peril the livelihood of millions of Filipino rice farmers. Amid runaway inflation triggered by its regressive tax reform program, the Duterte…
“A large wage hike is also justified by growing worker productivity. Between 2009 and 2017, labor productivity in NCR grew by 35% from Php456,059 per worker to Php614,297. However, that same period, the real value of the mandated minimum wage only increased by 11% and of ADBP by 16%, both measured in real terms at…
“NCR firms have more than enough profits to support a Php238 minimum wage hike. The latest data from the Philippine Statistics Authority’s (PSA) Annual Survey of Philippine Business and Industry (ASPBI) reports that NCR firms (with 20 and over employees) had combined profits of Php903 billion in 2015 while giving an average daily basic…
The Water for the People Network (WPN) said that government should not accede to the ruling of an international arbitral court granting the Maynilad Water Systems, Inc. petition to collect its corporate income tax (CIT) from consumers. The water rights group agreed that any impending water rate increase amid the ongoing dispute on pass-on CIT…
By Sonny Africa In a speech before leaders of the Association of Southeast Asian Nations (ASEAN) in Bali, Indonesia, Pres. Rodrigo Duterte said that the country is on an “upward trajectory of growth”. He was echoing the country’s economic managers who were recently touting a recovery of Philippine economic growth to the 7-8% target next…
#WorldHungerDay #UpholdPeopleEconomics Agricultural growth today falls far behind estimated population growth of 1.6% in 2018 and is well below the 7-decade historical average of 3.0% since 1948. The agricultural slowdown is also reflected in massive job losses in the sector. The Duterte administration only gives lip service to improving agricultural productivity amid this severe crisis…
The Duterte administration’s announcement that it will suspend the next round of fuel excise taxes will not lower current high prices and at best only lessens TRAIN’s inflationary impact next year, research group IBON said. It is however a welcome admission of the inflationary impact of the Tax Reform for Acceleration and Inclusion (TRAIN) law,…