Camarines Sur 2nd District Representataive Luis Raymund "LRay" Villafuerte Jr. on Saturday welcomed Malacañang’s release of P22.9 billion in financial assistance to low-income families in the so-called “NCR (National Capital Region) Plus” bubble.
Villafuerte, however, pressed nonetheless for the congressional approval of the so-called "Ayuda Bill" to further boost household spending across the country amid a fresh coronavirus surge that has further hurt business confidence and dampened economic activity.
He said the financial aid approved by President Duterte is a welcome relief for more than 22 million individuals hit hard by the week-long enhanced community quarantine (ECQ) in Metro Manila, and the provinces of Cavite, Laguna, Rizal and Bulacan.
"The Congress should nevertheless give priority to the passage of the proposed Bangon Pamilyang Pilipino (BPP) program when the Legislature resumes on May 17 its regular session after its almost two-month Lenten recess,’’ he added.
The proposed BPP program, Villafuerte explained, would mean a "bigger and broader package" for poor and low-income families since as it provides for a P10,000-subsidy per household for more beneficiaries not only in the NCR Plus bubble but in all other parts of the country.
"Such a stimulus package is needed to rejuvenate business confidence and consumer spending while the government sews up more vaccine deals with Big Pharma to purchase enough doses to hit its target of inoculating 100 percent of the country’s adult population of 70 million," he said.
Villafuerte is a member of the ‘’BTS sa Kongreso’’ faction headed by former House speaker and Taguig-Pateros Rep. Alan Peter Cayetano. Cayetano filed House Bill (HB) 8579 or the BPP Assistance Program — better known as the "Ayuda Bill".
Budget Secretary Wendel Avisado said the Department of Budget and Management (DBM) has already released the Special Allotment Release Order (SARO) and Notices of Cash Allocation (NCAs) for the P22.9-billion fund that President Duterte had approved to support low-income households in the NCR Plus bubble this Holy Week.
The DBM said 22.9 million people are entitled to receive P1,000 per person but not to exceed P4,000 per family either in cash or in kind, based on the most efficient and effective mechanism to be determined by their respective local government units (LGUs).
For Villafuerte, “the House leaderships needs to put the proposed BPP on the front burner" when the Congress reopens on May, citing the latest unemployment and underemployment data released by the Philippine Statistics Authority (PSA).
The Philippine Statistics Authority (PSA)’s February 2021 Labor Force Survey (LFS) bared that there were 4.187 million unemployed Filipinos in February or more than the 3.953 million recorded in the January round, and 4.2 million underemployed, or higher than the 4 million the month before.
Villafuerte also pointed out that in its latest Regional Economic Outlook, the ASEAN+3 Research Office (AMRO) has tagged the Philippines as among the region's economies most affected by the pandemic because of low household consumption resulting from the strict lockdowns and the government's "modest" spending, which accounted for just 23.5 percent of gross domestic product (GDP), as compared to its regional peers that rolled out fiscal stimulus packages of as high as 53.9 percent of economic output.
He said AMRO concluded in its report that "stronger fiscal support should be used to shore up the economy if the recovery were to falter or weaken."
Both the Senate and the House of Representatives adjourned last March 25 for the Congress’ traditional Lenten break, and will resume regular session on May 17.