Malacañang welcomed the call of some opposition senators to continue focusing on strengthening the country’s economy instead of the 2010 national elections. This is to ensure that Filipinos remain insulated from the effects of the global financial crisis.
According to the Press Secretary Jesus Dureza, this call from the senators is timely because the “effort to prepare for the (impending) economic situation is beyond politics.
He however stressed that this has been what President Gloria Macapagal-Arroyo was saying all along.
Meanwhile, to lessen the impact of the financial crisis, President Arroyo issued her tax reform initiatives which included tax exemption for employees earning less than P200,000 a year, and the decrease in corporate tax from 35 to 30 percent. (PIA/Bohol)