Scrapping oil VAT and excise taxes will immediately lower prices and moderate the impact on poor consumers.

Subsidies for transport operators and small producers will also provide relief while helping soften prices.

#VATTanggalin #JunkODL #PeopleEconomics

Oil shocks risk further erosion of Filipinos' purchasing power Many Filipinos’ meager incomes will not keep pace with the rising cost of living driven by higher fuel prices.

ICYMI: Rising oil prices amid escalating conflict in the Middle East threaten to further erode Filipinos’ already weak purchasing power.

#JunkODL #ScrapVAT #PeopleEconomics

ibon.org/oil-shocks-risk-further-erosion-of-filipinos-purchasing-power