Duterte and his Dutertenomists are deceptive. #TRAIN law
alone has siphoned off more money from private pockets to government pockets
esp the high oil tax, coal tax (round 1), sugar tax, etc. More tax revenues,
more govt spending (13.8% growth) allowed higher Q1 2018 GDP growth of 6.8%.
But look at household consumption, slowed down to 5.6%. And Dutertenomists are
silent about the need to raise fares -- jeepney, taxi, UV express, buses,
truckers, etc. Those fare hikes should be granted and see the impact on
household consumption, impact on #inflation.
And now this, $71/barrel, another oil price hike. And
January 2019 is near, oil tax hike, coal tax hike Part 2 will be slam dunked
upon us. #DOF #NEDA #DBM #BSP
If Dutertenomists, DOF and its NGO front Action for
Economic Reforms (AER) are very vocal and noisy about the need to raise oil taxes,
they should be equally vocal and noisy to grant the fare hikes too, so that
entrepreneurs in the land transport business (jeeps, taxi, UV express, buses,
etc.) can pass on the cost of their advocacy. But they are silent. Hoping to
reduce the damage of high oil taxes to inflation and household spending.
The decline in household spending would have been steeper
and bigger if the estimated 100,000 mainland Chinese gamblers/workers new
migrants were not here?
Chinese Money Triggers a Dizzying Rally in Manila
Property
Bloomberg News
May 4, 2018, 12:00 AM GMT+8
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