Francis Escudero Quotes

Lastly, we must lower bureaucratic costs. This refers to "under the table" payments.

We should consider lowering our income tax rates to equal Hongkong or Vietnam or Thailand. One of the major reasons why many locators do not like the Philippines is because they would have to pay their executives more takeout to equalize take home pay. For example, Hongkong has a tax rate of 17% while our marginal income tax rate is 32%.

It is unconscionable that this government charges more royalty on the sale of our very own natural gas from Malampaya than it taxes imported coal and fuel. We pay P1.40 per kilowatt hour for electricity from generated from natural gas and only P.17 per KWH from coal. Does that make any sense to you?

Now we must move heaven and earth to lower energy costs. We must complete the sale of NAPOCOR generating plants and PPA contracts to the private sector to generate more competition. Thus far, only about 40% have been privatized.

We already spoke of lowering costs of food, labor, and transportation.

We must prioritize projects already partially built. Half a bridge is equivalent having no bridge at all. Then we have to focus on widening our major arteries. Especially where traffic jams occur daily. The wastage of people's time and fuel runs into billions not counting the inefficient use of trucks which deliver goods.

Aside from pump priming our economy, we would be bringing down the cost of transportation and opening up those areas of our country which have not been developed.

Fifth, we must fast track our infrastructure development.

We should try to make seamless the transport of agricultural products from Mindanao to the Visayas and NCR; from the Cordilleras and the Cagayan Valley to Manila. From farms to bagsakans or markets or seaports.

Increasing research and development budget to 5 percent of the agricultural production (GVA=P1.17trillion) would bring about better varieties and more efficient farming methods which would increase yields and give the farmer higher incomes even while farmgate prices go down to benefit the consumer.

Let us be reminded that the poorest families belong to the agricultural sector. 40% of our labor force is directly dependent on agriculture. Another 20% are indirectly dependent.

By lowering their expenditure on food, we would be awarding every family with an increase in disposable income, and mitigate labor demands for wage increases.

While the average Malaysian or Thai household spends only 34% of its income on food.

Agriculture development is an activity very close to my heart because my father, now congressman Sonny Escudero, served as Secretary of Agriculture under 2 presidents.

Fourth, we must be self sufficient in producing our basic food staples such as rice and corn and fish.