‘There’s still hope for RP’

Amid the bleak prospect of a worsening budget deficit, there is still hope that the government will overcome this concern, Speaker Jose De Venecia Jr. said yesterday.

De Venecia said Congress will come in with a "seven-point program" to complement eight of the 10-point measures laid out by President Arroyo to reduce the fiscal crisis and keep the economy afloat.

"We have two parallel and simultaneous programs that are complementary. Once our people realize that we have a dual track program reinforcing each other, they would respond positively to the revenue measures - because they could see the light at the end of the tunnel," De Venecia said.

He said the President has already given her imprimatur to the proposal, following the "strong support" of "senior majority coalition members" at the House of Representatives.

De Venecia said leaders of the biggest political parties allied with the ruling Lakas-Christian Muslim Democrats have made known their "strong support" for the government’s efforts to raise more much-needed revenues through efficient tax collection.

The House leader expressed confidence that even the opposition will support the measures. stressing the need for the government to keep the economy afloat through effective revenue raising measures.

Opposition lawmakers had earlier vowed to block moves by the administration in pushing for the enactment of new revenue generating proposals.

De Venecia claimed administration lawmakers and their allies will push for the enactment of the seven-point program that will "cushion against the sledgehammer effect of taxes."

"Raising revenues is our most immediate concern. The creation of new wealth would further strengthen the government position in reducing the deficit," he said.

De Venecia assured the people that the program would allocate more resources aimed in addressing the problems of poverty, jobs and provide greater access to education, health and housing.

One significant move would be to revive the mining industry, which is expected to generate some $800 billion, courtesy of the country’s vast mineral wealth, he said.

But for this to be done, De Venecia said the Supreme Court should first resolve all the legal questions over issues of exploration.

"(So) that Filipinos will be able to move forward, employ hundreds and thousands of people and take out from the bowels of the earth a trillion worth of metals," De Venecia said.

"We are appealing to the wise men of the Supreme Court to consider these motions for reconsideration... to help turn around the economy and contribute to create the beginnings of a tiger economy," he said.

De Venecia stressed the country’s existing resources are not enough to sustain 84 million Filipinos.

"There have been many populist and popular proposals, but these don’t really have the potential to create a tiger economy," he said.

"The figures cited may sound incredible, but they are really justifiable targets and we can achieve them provided we all work together," De Venecia explained.