| PGMA's Opening Statement During the Signing of Accountability Reform Law |
Ceremonial Hall (25 January 2005) |
| Speaker De Venecia, Deputy
Speaker Raul Del Mar, Majority Floor Leader Boy Nograles, Principal Authors and Sponsors
of the Attrition Law from the Senate, Senator Recto, Senator Ponce Enrile, from the House,
Congressman Suarez, Congressman Lapuz. I'd like to greet also Senator Lito Lapid and all
the Congressmen and Congresswomen who are here today, Secretary Ermita, and the members of
the Executive Branch, ladies and gentlemen. I thank Congress and the Senate for passing the Attrition Law which I like to call the accountability reform law. I also congratulate those in the legislative and executive branch who did the complete staff work that is so important to the work of economic legislation. I thank the economic community, local and international, for acknowledging our legislative-executive partnership for reform by their putting their money where their mouth is so that the peso has been strengthening and the stock market has been rallying, while Asian stocks are sliding, Philippine stocks are showing strength. And I thank the congressmen and the senators for that. I hope that by tomorrow at the latest, the house will pass the VAT. And I'd like to assure our revenue agencies that we are doing our best to help you meet and go beyond your targets upon the commendation of Senate President Drilon. Nitz Amatong, our representative in the monetary board put in a resolution which the Central Bank approved and that is to give forward-looking amnesty in the sense that those who will pay 20 percent more than last year's taxes will be exempted from audit. That should make BIR Willy Parayno and his whole crew very happy. The buoyancy of the economy combined with an equitable revenue program and a strong fight against corruption are setting the stage for a decisive turn around that will bring in investments and jobs for our people. From the start, we have assiduously worked with Congress to build in the safety nets to cushion the impact of new tax measures on the poor, should there be any. We are willing to listen to all well-meaning proposals in this direction whether these come from administration allies or opposition or various groups that have the interest of the people in mind. There should be no divisions between pro-business or populist advocates. We must all be for one, united stable and prosperous nation. Congratulations and thank you. |