PROMDI presidential candidate Sen. Manny Pacquiao took potshots at the country’s leaders whom he called “pretentious and genius” amid the country’s poor condition.
“There are many pretentious leaders who are geniuses. But if you are a genius, why is the country suffering until now?” asked Pacquiao.
He noted that the country is spending more than what it’s earning. And these small earnings, he said, “cannot cover up our annual budget.”
The world boxing champ turned politician noted it is ironic that while the country’s budget has been increasing each year, the amount of revenues it generates is steadily declining.
“So, we resort to borrowing since we have huge spending despite the small earnings,” said Pacquiao who asserted it should be the other way around.
He related that the country’s approved national budget in 2021 was P4.2 trillion, but the government revenue was only pegged at P2.9 trillion.
He slammed corruption which is embedded in all levels of governance as behind the country’s budget gap.
Due to this, he wants to see all in jail the thieves and the corrupt for stealing from the nation’s coffers.
To address this dilemma, the senator believes the government should create a favorable business climate to allow domestic and foreign direct investments to flourish.
The government should also maximize the potential of its Government-Owned and Controlled Corporations (GOCCs) as big revenue earners.
According to Pacquaio, his mission is also to create more jobs for Filipinos, as he vowed to help micro, small, and medium and enterprises (MSMEs).
There is also a need to support the business sector through lowering corporate taxes and cheap and steady internet and power supply, he said.
Acknowledging that more taxes imposed would amount to more burdens to the people, the PROMDI presidential candidate assured he would call for a massive tax cut.
“It’s burdensome to the public. The more we are choking the people in increasing taxes. The cost of goods is surging and everything, due to taxes,” said Pacquiao.
