MAP asks government Who pays for promised tax perks?
The Management Association of the Philippines (MAP) has expressed support for President Marcos's economic relief promises but questioned the fiscal sustainability of these measures. Business leaders are concerned that tax exemptions and social benefits might place an undue financial burden on the private sector.
Why it matters
This highlights the tension between government populist economic policies and the concerns of the business community regarding fiscal responsibility.
MANILA, Philippines - Business group Management Association of the Philippines (MAP) welcomed President Marcos' focus on the Filipino households' pain points during his fifth State of the Nation Address (SONA) on Monday.
But this early, the MAP has raised concern over the cost of the promised relief and who will ultimately pay for it.
In an interview with ANC, MAP president Donald Lim said Marcos' focus on immediate household concerns such as food prices, jobs, health care, energy costs and small business tax relief was "very appropriate" with many families and businesses facing economic pressure.
"For the first time, I felt he (Marcos) was really talking to the Filipino people," he said.
"I felt that was what we were looking for. It was a good laundry list and I think he checked most of the boxes," Lim added.
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