Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Stock Markets

House minority backs proposal to make 2026 budget bicam public

PHILIPPINE STAR/PAOLO ROMERO

THE House of Representatives minority bloc on Sunday backed a proposal to open bicameral conference meetings on the 2026 national budget to the public amid calls to make the deliberations more transparent.

This would deter “last-minute” fund insertions, “closed-door arrangements” and promote fiscal discipline, while also enabling greater public scrutiny, Party-list Rep. Marcelino C. Libanan said in a statement.

“Allowing the public to witness the bicameral discussions upholds the principle that citizens have the right to know how their money is being allocated,” the House minority leader said.

“It must be debated and finalized not behind closed doors, but in full view of the people whose lives will be most affected by it,” he added.

Most bicameral conference committee meetings, where senators and congressmen reconcile conflicting provisions of their bills, are normally held behind closed doors.

Budget proceedings last year were criticized after the bicameral panel increased unprogrammed funds fourfold to more than P500 billion, aside from blank line-items, fueling concerns that the budget was tweaked after Congress ratified it.

President Ferdinand R. Marcos, Jr. later struck down P168 billion worth of projects under standby appropriations, noting that some line items were inconsistent with his government’s priorities.

Speaker Ferdinand Martin G. Romualdez last week said he supports moves to open the budget’s bicameral committee proceedings to scrutiny, citing the need to restore public trust in the budget process.

“We fully support the Speaker’s initiative to shine a light on one of the most crucial and sensitive phases of the budget process,” Mr. Libanan said. “Once we open the door, let’s make sure it stays open.”

“A more transparent process elevates the quality of debate and negotiation and serves as a strong safeguard against the misuse of public funds,” he added.

The Development Budget Coordination Committee has proposed a P6.793-trillion national budget for 2026, equivalent to 22% of economic output and 7.4% higher than  this year’s budget.

The budget process for next year’s spending plan is expected to kick off in August after the Executive branch submits the budget proposal to the House, according to a Budget department briefer.

Under the 1987 Constitution, Malacañang must transmit the proposed budget within 30 days after the opening of the regular session of Congress, which begins on July 28.

The budget bill is initially heard by the House committee on appropriations for months before moving to plenary debates. To fast-track the process, the Senate finance committee concurrently starts budget hearings with agencies. — Kenneth Christiane L. Basilio

    You May Also Like

    Stock Markets

    STOCK PHOTO | Image by Vecstock from Freepik By Ashley Erika O. Jose, Reporter THE P31.55-BILLION unsolicited proposal of ComClark Network and Technology Corp. for...

    Finance

    Padel continues its meteoric rise, with more than 3,200 new clubs built globally in 2024 – the equivalent of one opening every two and...

    Stock Markets

    STOCK PHOTO | Image by Jcomp from Freepik (Part 1) A Philippine delegation of 42 agribusiness entrepreneurs and academics traveled to Ho Chi Minh from...

    Finance

    Marks & Spencer’s new strawberry and cream sandwich has captured attention on social media — but now it’s caught the eye of tax experts,...

    Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.