Stock Markets

Lacson flags P100-billion insertions in 2025 budget

Lacson flags P100-billion insertions in 2025 budget – BusinessWorld Online


      
      
      
      
      








PHILIPPINE STAR/JOHN RYAN BALDEMOR

SENATOR Panfilo “Ping” M. Lacson on Sunday said senators of the previous Congress inserted at least P100 billion worth of items into this year’s P6.79-trillion national budget.

In a statement, Mr. Lacson said “almost all” senators had individual amendments to the budget, with allocations ranging from P5 billion to P9 billion each. These were tagged as “for later release.” He did not name specific lawmakers.

“For the Senate, the insertions amounted to at least P100 billion. I was surprised because these are individual insertions although they were held ‘for later release,’” he said.

He added that he has yet to review the list of insertions made by congressmen, which he described as “long.”

Mr. Lacson said the magnitude of congressional insertions has ballooned compared with the amounts under the now-defunct Priority Development Assistance Fund (PDAF) or pork barrel, which the Supreme Court struck down as unconstitutional in 2013.

“It was humongous,” said Mr. Lacson, who heads the blue ribbon committee. “I have never seen such amounts. Before PDAF was declared unconstitutional, ‘pork’ amounted to hundreds of millions. Now it’s at least P100 billion total for 24 senators alone.”

The 2025 GAA has drawn criticism over congressional insertions. President Ferdinand R. Marcos, Jr. delayed signing the budget for more than a week in December to review its provisions before vetoing more than P194 billion worth of items deemed inconsistent with his administration’s priorities.

Mr. Lacson warned that large-scale insertions could strain the economy by diverting funds from programs that should be implemented at the village, city or regional levels.

He said he would raise the issue during budget deliberations, asking agencies why they allowed such items. “In scrutinizing the budget especially in the plenary, I want to know how much of the insertions were released and how they were implemented,” he said.

He also urged lawmakers to exercise restraint in pushing for locally funded infrastructure projects, which have come under scrutiny amid reports of ghost and anomalous flood control programs. — Adrian H. Halili

CEDTyClea





You May Also Like

Stock Markets

Pedestrians along the Estrella-Pantaleon Bridge are dwarfed by the towering buildings in Makati City, Dec. 5, 2022. — PHILIPPINE STAR/MIGUEL DE GUZMAN THE Department...

Finance

Prime Minister Keir Starmer is tightening control over the government’s economic strategy by strengthening a cross-government Budget Board that will shape the Autumn Statement...

Finance

Formula 1 drivers Isack Hadjar and Liam Lawson of the Visa Cash App Racing Bulls (VCARB) team have taken an unusual step to thank...

Finance

A new player in football talent management has entered the game. M+C Saatchi Football, co-founded by former England and Liverpool midfielder Jamie Redknapp, officially...

Exit mobile version