The rising rate of inflation over the past few months creates a huge impact against the purchasing power of every Filipino.
In the Senate, we can push for the lowering of VAT to 10 percent. To manage the possible effect of lowering the government revenue, we need to repeal the long list of unnecessary and inefficient VAT exemptions.
Another key solution that we are working on is to liberalize the importation of rice in the Philippines. Our country has long suffered from high price of rice due the severe import mismanagement.
It's high time we allow Filipino families to have greater access to cheaper rice products.
We reiterate our call to the government to check and find efficient means of managing inflation through sound economic policies.