Philippines infrastructure spending waits on tax cuts
Official warns that non-passage of tax reform would lead to "dark age"
Philippine Socioeconomic Planning Secretary Ernesto Pernia said on Tuesday that non-passage of Duterte’s tax reform measure represents an obstacle to ambitious infrastructure plans for the country:
“It’s not going to be the golden age of infrastructure. It will be the Bronze Age maybe of infrastructure, or maybe dark age of infrastructure. So that is how terrible, that is how unwelcome the non-passage of the CTRP (comprehensive tax reform program) is going to be…
“There’s a problem, then we will be unable to fund the build, build, build. It will be small build, small build, small build… Maybe no build, no build, no build.”