Inclusive Growth

Human Resource Development Key to Inclusive Growth – Sen. Bam

The government should put premium in developing the quality of human resources, as it will help the country achieve inclusive and sustainable growth.

“The best thing about the Philippines is the Filipino, so it’s high time we invest in the further development of our people,” said Senator Bam Aquino, chairman of the Committee on Trade, Commerce and Entrepreneurship, as he echoed an earlier position by House Speaker Feliciano Belmonte.

Aquino also encouraged schools to help in the development of human resources by providing training and other capacity building measures to arm students with additional skills when they turn professional in the future.

“Aside from this, we should provide added training to our seasoned workers so they will not be left behind in these modern times,” the senator added.

Aquino stressed that strengthening human resources development will also help create more jobs in the country, particularly in areas of agriculture, tourism, infrastructure development, semiconductor and electronics manufacturing, and business process outsourcing (BPOs).

“With jobs available for more Filipinos, the unemployment rate and poverty incidence in the country will go down,” Aquino said. Aquino added that the human resources development is crucial especially with the 2015 ASEAN Integration fast approaching.

“We need to develop our human resources now so we can be ahead of the competition for the lion’s share of the market composed of 600 million people,” Aquino stressed.

With capacity building is one of the areas of cooperation identified in the 2015 ASEAN integration, Aquino said investing in human resources would empower the country to face the challenges of integration.

 

Photo source: pcauthority.com.au

Lack of True Inclusive Growth Dips Down PH Rating – Sen. Bam

Senator Bam Aquino points the country’s drop in the 2014 World Competitiveness Yearbook (WCY) to lack of true inclusive growth.

“If there is true inclusive growth, our global competitiveness will further improve,” said Aquino, chairman of the Committee on Trade, Commerce and Entrepreneurship.

Aquino made the assessment after the country slipped four notches in the WCY despite the country’s 7.2 percent GDP growth — the second highest among countries ranked in the report.

The country’s rating was affected by five critical challenges, including infrastructure, corruption, unemployment and underemployment, undeveloped financial system and natural disasters.

While admitting that the country’s woes have been compounded by calamities and high-profile cases, the senator also said government needs to improve on in its inclusive growth strategies that will address unemployment and the economic gap that divides the rich and the poor and ultimately build a stronger, more sustainable economy.

“Our growth has not reflected true progress for everyone in the country.  It is urgent that we do something about our youth and unemployed,” he added. “We can become more competitive when we empower our labor sector; we want a country where no one is left behind.”

23rd WEF Plays Vital Role in PH Economy – Sen. Bam

The 23rd World Economic Forum on East Asia, which will be held in the country from May 21-23, plays a vital role to the Philippine economy with the 2015 ASEAN Integration fast approaching.
“With the spotlight on East Asia, we should take every opportunity to showcase and promote the country’s robust economic growth,” said Senator Bam Aquino, chairman of the Senate Committee on Trade, Commerce and Entrepreneurship.
Earlier, the World Economic Forum (WEF) described the Philippine economy as one of the “greatest economic comeback stories in recent years.”
The WEF also predicted that the country would be the strongest performing Southeast Asian economy this year, with gross domestic product (GDP) growth projected to surpass 6.5 percent.
“The Forum is an ideal stage where we can entice businessmen to pour investments and establish other ventures in the country, aside from promoting our products and services,” added Aquino, whose office is one of the organizers of the Forum.
Aquino believes that the government and private sector should grab every opportunity to promote the country before the launching of the 2015 ASEAN Economic Community 2015.
“When the integration starts, we expect tight competition from other countries for a lion’s share of the ASEAN market composed of 600 million people,” Aquino said, who is part of the prestigious WEF community and will participate in the events the next few days.
In his speech during the 3rd National Symposium Workshop on Empowering People & Organizations in the Workplace for Excellent Results (E-Power), Aquino stressed the important role of micro, small and medium enterprises (MSMEs) in the country’s economy at the start of ASEAN integration.
“As much as there are risks here, there are opportunities there,” Aquino said, emphasizing that enhancing the quality of our products and services will increase the businesses’ chances to perform favorably in the free market.
Photo source: WEF Website

Sen. Bam hits BIR’s ‘Anti-Poor’ Circular, Files a Bill to Exempt Small Businessmen from Taxes

Senator Bam Aquino has filed a bill seeking to exempt Marginal Income Earners (MIEs), including farmers, fishermen, tricycle drivers, small sari-sari storeowners and other micro-entrepreneurs, from payment of income tax.

In Senate Bill 2227, Aquino said MIEs, or self-employed individuals who earn not more than P150,000 annually, should be spared from paying income tax, just like minimum wage earners.

“Granting income tax exemption to minimum wage earners while subjecting our small businessmen to income tax is contrary to the mandate of the Constitution, there being no substantial distinction between them in terms of earning capacity,” Aquino said in his measure.

Aquino made the move after the Bureau of Internal Revenue released a memorandum circular — Revenue Memorandum Circular (RMC) No. 7-2014 — compelling micro entrepreneurs to pay income tax returns.

The circular said MIEs include agricultural growers/producers such as farmers and fishermen selling directly to consumers, small sari-sari stores, small carinderias or “turo-turos,” and drivers/operators of a single unit tricycle.

“Charging taxes does not help them in any way. Rather, it becomes a burden to a sector that is situated below the poverty line,” Aquino said.

“Imposing income tax on our small businessmen is tantamount to confiscating what little income they are able to make on a daily basis,” he added.

The bill classifies MIEs as self-employed individuals – working neither for the private sector nor the government — deriving gross sales/receipts not exceeding P150,000 during any 12-month period, which will be used principally for subsistence or livelihood.

If enacted into law, the bill allows the BIR to adjust the income cap on the gross sales of the small businessmen to match any increase that minimum wage income earners may receive.

Aside from income tax, MIEs shall be exempt from 12 percent value-added tax and any percentage tax imposed under the National Internal Revenue Code of 1997 because they are not engaged in trade for which these taxes are imposed.

“Such a measure provides an enabling environment for our Filipino people to thrive and be given a chance to succeed.  It further continues our campaign in achieving true inclusive growth for everyone, even for the poor and marginalized,” Aquino said.

 

Photo source: biogprawny

Tired of Graft, Corruption? Register! – Sen. Bam on Youth

Tired of graft, corruption and red tape? Register!

Senator Bam Aquino encourages the three million youth voters to register so they can exercise their constitutional right to suffrage and be an instrument of change in the country’s political system.

“Don’t waste your right to vote. This is one way you can effect positive change in the country’s political system,” said Aquino, chairman of the Committee on Youth.

Aquino said new registrants have 17 months or from May 6, 2014 to October 31, 2015 to register and be counted for the 2016 national and local elections.

“In 2016, you will play an important part in selecting next president and other leaders who will chart the country’s course. Don’t waste this opportunity,” the senator said.

At the same time, Aquino called on the 9.6 million registered voters who have no biometric data to update their records with the Commission on Elections (Comelec) during the registration period so they can vote in 2016.

According to Republic Act No. 10367, or the Mandatory Biometrics Registration Act, a voter without biometric record will be removed from the list and will not be able to vote in the next election.

The senator also encouraged local officials to assist the Comelec’s efforts in the registration of voters by providing transportation to their constituents living in far-flung areas.

However, Aquino said local officials should bring their constituents to the Comelec office early and not wait on the last day to avoid chaos.

Aquino reminded new registrants to bring one valid ID, like a driver’s license, and any government, company, school ID or passport.

He also reminded registrants that Comelec offices will be open from 8 a.m. to 5 p.m. and will be closed only on either Friday or Saturday.

Sen. Bam Lauds Kiko’s Appointment as Presidential Adviser on Agriculture

Senator Bam Aquino lauds the appointment of former senator Francis “Kiko” N. Pangilinan as Presidential Assistant for Food Security and Agricultural Modernization, saying his experience and competence fit the mandate and position.

“I am confident that he will be able to push through with the needed reforms and modernization plans to achieve inclusive growth in the agricultural sector,” said Aquino, chairman of the Committee on Trade, Commerce and Entrepreneurship.

Aquino added that he and Pangilinan share the same view, believing in “inclusive supply chains” and “farmers are also entrepreneurs”.

“Senator Kiko and I have talked about programs that start at the farms and end with food at the table. His programs and mine are complementary,” the senator said, adding that Pangilinan’s experience in running his own farm is a plus for his new position.

“In our previous meetings, we have talked about future convergence points and partnerships that will enable farmers to grow their production, their market and their livelihood,” Aquino added.

Aquino committed to help Pangilinan work for innovative tools and technology that “will bring back the richness of our agricultural sector and for our own sustainability as a nation” through legislative measures.

Pangilinan served as senator for 12 years. He was also Chairman of the Committee on Agriculture and Food and the Committee on Social Justice and Rural Development.

 

Photo source: Malacanang Photo Bureau

Sen. Bam: Filipino Workers Should Have Lower Taxes

Good news for Filipino workers burdened by high taxes!

Filipinos burdened by high taxes can heave a sigh of relief once a bill filed by Senator Bam Aquino seeking to review and reform current tax system is enacted into law.

In explaining Senate Bill No. 1942, Aquino said there’s an urgent need to revise the current tax bracket set by the National Internal Revenue Code, which was passed in 1997.

“Now is the time to get this updated and be attuned to the present time,” Aquino stressed.  “We cannot continue using outdated tax brackets and a threshold which were approved fifteen years ago.”

“The salary of a management level employee fifteen years ago will probably be equivalent to the salary of an entry level call center agent today because of inflation and other economic factors,” he added.

Under Aquino’s bill, Section 24 of the National Internal Revenue Code of 1997 will be amended by adjusting the levels of net taxable income and simplifying the nominal tax rates in computing individual income tax, based on current prices.

“The Tax Reform Act effectively lowers the taxes on the Filipino working class, allowing them to enjoy a higher net income and increasing their purchasing power,” Aquino said.

The senator also assured that the bill would not impose a burden on the micro, small, and medium enterprises (MSMEs) that comprise a majority of employers in the Philippines.

With a just tax system, Aquino believes that it will encourage citizens to declare their true income and pay their taxes.

“It also supports the government’s push for inclusive growth while ensuring that government is still able to raise funds for social programs that directly benefit the poor,” Aquino said.  “It is a win-win solution that offers the greatest benefit to the greatest number of Filipinos.”

Aquino added that the bill also adjusts the tax level of the upper one percent (1%) of taxpayers, making sure that the government is able to collect a larger share of income from those who can afford to pay more.

Sen. Bam to DTI: Look into Overpricing of Construction Materials in Yolanda-hit Areas

Senator Bam Aquino has called on the Department of Trade and Industry (DTI) to intensify monitoring on cost of construction materials in Eastern Visayas after receiving reports of overpricing in areas devastated by Typhoon Yolanda.

“The DTI should double its monitoring efforts because some unscrupulous businessmen are taking advantage of the situation in Tacloban and nearby areas,” said Aquino, chairman of the Senate Committee on Trade, Commerce and Entrepreneurship.

“We should punish these merciless traders for preying on our countrymen who have already suffered much because of the typhoon,” he added.

Aquino said traders should not use supply as issue with routes already passable and shipping operations now back to normal.

“The super typhoon happened four months ago. Delivery delays cannot be used as reason since all the routes going to Tacloban and other areas have opened,” Aquino said.

Aquino received reports from concerned citizens in Tacloban and nearby areas that some hardware stores sell ¼-inch plywood between P370 to P400, from its previous price of P290 to P300.

“From its old price of P550 per cubic meter, sand is being sold at P800 per cubic meter while gravel is now at P1,350 per cubic meter, P400 higher than its previous cost,” the senator said.

Aquino also revealed that price of hollow blocks doubled from P9 to P18 while ply board is now P965, from P845 to P900.

The senator said Portland cement, which usually costs around P222, now sells at P235, tie wire at P1,475 from P1,190 and 10-millimeter steel bar at P130 from P123.

“Even those hardware stores from nearby areas which were not affected by the typhoon also sell overpriced construction materials,” Aquino said.

The senator added that Tacloban residents opt to travel more than 100 kilometers to Ormoc City where construction materials are cheaper.

 

Photo source: Rappler.com

Sen. Bam: Youth Unemployment a Growing Epidemic

With an estimated 700,000 fresh graduates joining the ranks of the unemployed, the number of jobless youth ranging from 15 to 24 years old in the country will breach the two million mark

Senator Bam Aquino believes that there will be no end in sight to this alarming trend unless the government launches a massive and serious campaign to address the problem.

“While we commend the government’s efforts to solve the rising number of unemployed youth in the country, it is not enough because, like an epidemic, the number keeps growing and growing every year,” said Aquino, chairman of the Senate Committee on Youth.

At present, Aquino said the number of unemployed youth accounts for half of the country’s 2.9 million jobless workers.

If the definition of youth under Republic Act 8044 is to be followed, the present number of jobless individuals ranging from 15 to 30 years old increased to 2.13 million.

The Department of Labor and Employment (DOLE) reported that there are 3.8 million job vacancies waiting to be filled, especially in industries such as services, construction, tourism, and information, technology and communications, and the business process outsourcing (BPO).

“However, many of these vacancies remain as such because of other factors such as the prevalent job and skills mismatch,” said Aquino, adding that 35.8 percent of the time, applicants are rejected due to lack of competency or skill.

Aquino said the government should take steps to address job mismatch, which stems from lack of proper education and training of applicants for a particular line of work.

“Usually, job mismatch happens when an applicant cannot comply with the technical skills needed for a position,” Aquino said.

Aside from addressing job mismatch, Aquino encouraged the government to come up with programs that will help the youth turn into entrepreneurs.

The Senate has been tackling several bills on youth entrepreneurship to help address the problem of unemployed youth.

“With the slow pace of the country’s legislative mill, it will take months or years before these measures are enacted into law. That’s why the government needs to take the initiative and start these programs right away,” Aquino said.

Aquino believes that the government’s push for inclusive growth will not take off unless the problems of youth unemployment and underemployment are not immediately addressed.

The senator believes that would-be youth entrepreneurs should be given access to financing, training, market linkages, and other means of support that will help them run and develop their own businesses.

Photo source: studentthinktank.eu 

Sen. Bam: No Graduation Fees in Public Elementary & High Schools

Senator Bam Aquino reminded public elementary and high school officials about the existing Department of Education (DepEd) policy that prohibits collection of graduation fees.

Under DepEd Order No. 8, series of 2005, Aquino said graduation fees or any other kind of contribution is not a prerequisite for graduation.

“Any public school official who will prevent a student from graduating due to failure to pay any kind of graduation fee will be subjected to administrative sanctions,” warned Aquino, chairman of the Senate Committee on Youth.

Aquino supported the call of DepEd Secretary Br. Armin Luistro not to collect any fees from parents for the graduation ceremonies.

Aquino said the practice of collecting graduation fees must stop because the 1987 Constitution mandates the government to provide free public education at the elementary and secondary levels.

“No less than the 1987 Constitution protects our rights to free education and we must take the necessary steps to uphold this provision,” Aquino said.

In connection with this, Aquino called on different private sectors to report to the DepEd public school officials who violate the order.

“We need to put a stop to this and one way of doing it is to get the public’s cooperation as they are our eyes and ears on the ground,” Aquino stressed.

At the same time, Aquino called on private schools to forego of lavish graduation ceremonies and instead donate to the rehabilitation of earthquake victims in Bohol and Cebu and Yolanda survivors in Eastern Visayas.

“Our countrymen in devastated areas still need our help,” said Aquino, who recently visited Bohol to observe the ongoing rehabilitation in earthquake-hit areas.

Photo source: Inquirer.net

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