Press Release
July 25, 2011

Senate session hall

Q: On priority measures

I think it's about time that we start thinking of revenue-raising measures. Next year I would expect that we need a regular revenue stream in order to jumpstart our economy. We have laid the groundwork. The administrative aspect of tax collection has improved quite a bit but we need a steadier flow of revenue. For example, we have to review the sin taxes and we must rationalize the fiscal incentives. In effect I am in favor of reviewing and looking at measures to increase our revenues. I would push that we start seriously thinking about the privatization of the gaming industry particularly sweepstakes and Pagcor. We have to start working on that so that we can realize substantial revenues from this gaming industry where a lot of leakage has happened in the past.

Q: Aquino promised no new taxes under his admin

I think he has promised that and he has fulfilled it, but we cannot hide our heads under the sun and simply ignore the realities that we face.

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