By Katherine K. Chan, Reporter
TARGETED ASSISTANCE for the segments of society deemed vulnerable to oil price volatility will likely be more beneficial for the Philippines than suspending or reducing excise taxes on fuel, the Asian Development Bank (ADB) said.
“I imagine that greater targeting of the assistance would be better than a blanket reduction in excise tax, because if you reduce the excise tax, rich people with lots of cars would benefit more, whereas you could have provided, say, income or food subsidies for the more vulnerable,” ADB Lead Economist for Southeast Asia James P. Villafuerte said at a briefing on Thursday.
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