P3PWD Party-list Rep. Rowena Guanzon warned against the creation of the controversial P275-billion Maharlika Wealth Fund (MWF) by the Marcos administration, likening it to the mythical Tallano gold said to be in possession of the Marcos family.
In a series of tweets over the weekend, the outspoken former Commission on Elections (Comelec) commissioner sounded the alarm on plans to raise the seed funding for the MWF from pensioners’ funds, such as the Government Service Insurance System (GSIS) and the Social Security System (SSS).
“Let's demand full disclosure and public discussions on the plan of Speaker and Cong S Marcos to create a Maharlika Wealth Fund. Baka Tallano gold na naman yen (That might be another Tallano gold)?,” she tweeted, referring to House Speaker Martin Romualdez and Ilocos Norte 1st District Rep. and presidential son Sandro Marcos.
She questioned the proposed use of government financial institutions, such as GSIS and SSS, for the State to use for investments, and took a swipe at President Ferdinand “Bongbong” Marcos Jr. on issues hounding him about the unpaid P203-billion estate taxes of his family.
“Contributions natin sa SSS & GSIS gagawing puhunan ng (Our contributions to SSS & GSIS will be made capital for) Maharlika Fund? Bakit hindi nila gawing puhunan ang Estate Tax utang nila na 203B (Why not they use as capital the estate tax they owe amounting to P203 billion)?,” Guanzon asked.
She rallied her Twitter followers to “oppose” House Bill (HB) No. 6398, which was passed by the House Committee on Banks ang Financial Intermediaries last Dec. 1.
READ: Proposed ‘Maharlika’ fund OK’d by House panel, given final name
“Oppose HB 6398 Maharlika Fund. Sign the petition. Baka pag retire nyo wala nang pera ang SSS at GSIS (Maybe when you retire, SSS and GSIS won’t have money anymore),” Guanzon wrote.
The lawmaker also made some suggestions on how the Marcos administration can raise money for the MWF, which the proposed measure said would generate another income stream for the Philippine government through investments here and/or abroad.
The money generated from the MWF will then be used as additional budget for government projects.
But Guanzon expressed her opposition to this, too, saying it would be better for the government to raise mining taxes and make that the source of the fund.
“Bakit hindi mag source ang government (Why not the government source) from mining tax? Itaas ang mining tax (Raise the mining tax),” she said in another Twitter post, accompanied by hashtag #maharlikasucks.
Once more calling for “full disclosure,” Guanzon hinted that “politicians” could be benefitting from mining companies.
“Full disclosure dapat (It should be full disclosure). Who are the politicans who have interests in Mining companies? Why not increase the tax on mining companies? #maharlikasucks,” she wrote, adding how scary it is that the Department of Finance (DOF) also supports the proposed MWF.