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Business group backs P1.3-trillion stimulus bill

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MANILA - A business group called on the government to pass a House-approved bill seeking to spend P1.

3 trillion to stimulate the economy, saying corporate tax reforms and new banking measures may not be enough.

MAP president Francis Lim, however, said in a statement on Tuesday his group was surprised that Duterte did not endorse the Accelerated Recovery and Investments Stimulus for the Economy of the Philippines, or ARISE bill. The ARISE bill provides for wage subsidies, cash aid and training for displaced workers, educational subsidy for students, as well as aid for small and medium enterprises, among others.

“Given what recently happened to ABS-CBN, this is a clear and present danger to the businesses mentioned. He can make it happen and that sends a chilling effect to business and potential investors,” Lim said.

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