Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Stock Markets

Marcos: Budget bicam to be livestreamed

BW FILE PHOTO

PHILIPPINE President Ferdinand R. Marcos, Jr. on Wednesday said discussions on the 2026 national budget would be livestreamed, marking the first time the bicameral conference committee will be opened to the public amid growing calls for transparency in the spending process.

Mr. Marcos said he had agreed with Senate President Vicente “Tito” C. Sotto III and Speaker Faustino “Bojie” G. Dy III to make the entire bicameral process public, ensuring that last-minute insertions or amendments to the spending bill could be traced.

“There will be no more small committee,” Mr. Marcos told reporters in Malacañang. “If there are questionable insertions or additions, people will know who made those changes.”

He said livestreaming the bicam would let Filipinos see firsthand how lawmakers reconcile budget differences and understand the process behind congressional adjustments. “The bicam is actually a public hearing,” he said. “Now, it will all be out.”

The move follows Mr. Marcos’ order to investigate a multibillion-peso flood control scam involving alleged kickbacks from public works projects. The scandal has prompted scrutiny of how congressional realignments are made during final budget deliberations.

Last week, the House of Representatives approved a record P6.793-trillion national budget for 2026 that it plans to transmit to the Senate before yearend.

The spending plan is 7.4% higher than this year’s outlay and was approved after lawmakers realigned P201.1 billion, or nearly 79% of the P255-billion initially allotted for flood control, toward education, food security and healthcare programs.

The realignment followed Mr. Marcos’ order to suspend flood control projects next year pending corruption probes. He said he would make sure that every peso goes to projects that truly serve the people.

The President added he does not expect to veto any item in the 2026 budget, saying the House-approved version aligns with his administration’s priorities.

“As far as we have examined, there are no projects listed there that are outside the socioeconomic development plan,” he said. “I don’t think we need to veto — but let’s see, because the process is not yet finished.”

Mr. Marcos said the Senate version of the budget would still undergo scrutiny before being finalized through the bicameral committee.

Budget watchdogs have long urged Congress to open bicameral sessions to public view, noting that the closed-door process has often shielded last-minute insertions. — Chloe Mari A. Hufana

    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...

    Stock Markets

    The logo of J.P. Morgan is seen in Zurich, Switzerland July 8, 2021. — REUTERS/ARND WIEGMANN By Bettina Faye V. Roc, Banking Editor THE...

    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...

    Finance

    Tesla shares have surged almost 50% since the company was rocked by a very public clash between CEO Elon Musk and US President Donald...

    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.