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Manila Bulletin devider Philippines devider National devider Economic Cha-cha to open floodgates to lobby money? That's scare tactics, says Gonzales 

Economic Cha-cha to open floodgates to lobby money? That's scare tactics, says Gonzales 

Published Feb 29, 2024 04:23 am

At A Glance

  • House Deputy Majority Leader Mandaluyong City Rep. Neptali "Boyet" Gonzales II brushed off as mere scare tactics the claim that inserting the phrase "unless otherwise provided by law" to the 1987 Constitution's economic provisions would flood Congress with lobby money. 
  • Bayan Muna chairperson and former congressman Neri Colmenares made the claim during the plenary discussions on RBH No.7.

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Mandaluyong City lone district Rep. Neptali Gonzales II (Ellson Quismorio/ MANILA BULLETIN)

Just scare tactics.

That's House Deputy Majority Leader Mandaluyong City Rep. Neptali “Boyet” Gonzales II's counter-argument to a resource person's claim that inserting the phrase "unless otherwise provided by law" to the 1987 Constitution's economic provisions would flood Congress with lobby money.

“[Ang sabi] (The claim was) if you give the legislative power to Congress to change the proportion of ownership as provided for by the Constitution, masa-subject daw kami sa mga magla-lobby. Sa akin, pananakot lang ‘yan eh,” Gonzales said in a press conference on Wednesday, Feb. 28.

(We would get subjected to those who want to lobby for laws. For me, that's just scare tactics.)

The House of Representatives, convening as a Committee of the Whole, is presently deliberating on Resolution of Both Houses (RBH) No. 7, which aims to ease constraints on specific economic provisions of the 37-year-old Charter by inserting the phrase "unless otherwise provided by law".

One of the key proposed economic reforms aims to reassess the 60-40 equity rule on foreign ownership, which currently limits foreigners to owning up to 40 percent of companies in the Philippines.

ALSO READ:

https://mb.com.ph/2024/2/27/tuloy-pa-rin-economic-cha-cha-must-be-pursued-despite-puno-s-warning-of-constitutional-challenge-says-solon

This rule has long been identified as a significant barrier to substantial increases in foreign direct investment (FDI), thus impeding the country's economic growth trajectory.

During last Tuesday's deliberation, Bayan Muna chairperson and former congressman Neri Colmenares cautioned that the proposed amendment could lead to the centralization of powers in Congress and the influx of lobby money to the legislature.

But for Gonzales, the more important question is whether or not the Philippines needs to implement such constitutional revision for the sake of economic advancement.

Gonzales has been designated as majority leader of the Committee of the Whole, which conducts plenary deliberations on RBH No.7 from Monday to Wednesday.

Related Tags

Neri Colmenares Charter change Neptali Gonzales II lobby money scare tactics
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