Day: August 24, 2023

Proposed nat’l budget for 2024: ‘Filled with red flags, skewed priorities’

“The government’s fiscal strategy is seriously flawed. Revenues are low from over-relying on indirect consumption taxes on poor and middle-class Filipinos who have low levels of incomes and spending, from cutting direct taxes especially on high-income families and large corporations, and from avoiding wealth taxes even just on hugely concentrated billionaire wealth. Poor revenue generation is ultimately what causes constant borrowing and excessive debt.”