If the government is looking for a way to raise much-needed revenues, Ibon Foundation Inc. said creating the Maharlika Investment Fund (MIF) would not be the best way to do it.
IF the government is looking for a way to raise much-needed revenues, Ibon Foundation Inc. said creating the Maharlika Investment Fund would not be the best way to do it.
Ibon’s proposal is echoed by the Nagkaisa labor coalition who also proposes imposing a tax on the “unused assets of the wealthiest in the country.” It would also draw P50 billion from Land Bank of the Philippines , P25 billion from Development Bank of the Philippines and another P25 billion from the national government budget.
Africa said if the government had excess fiscal and foreign exchange resources, these are much better spent on more urgent ayuda, wage subsidies, small business support, and public schools and hospitals. “There is a reason both SSS and GSIS are very careful in their investment decisions and that is because that is how they secure future generations of Filipinos,” Nagkaisa said.
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