RP’s next leader will have to raise taxes
Posted by akosistella on March 12, 2010
Most analysts say markets should not be too ruffled in the meantime if candidates pledge not to raise taxes or impose new revenue measures. Such promises are highly unlikely to be kept.
“Any candidate who … promises no new taxes is going to eat his words,” said an economist at a large local bank. “It’s going to happen, otherwise we could lose the confidence of investors.”
The four leading presidential candidates in the May polls have all promised measures to boost the tax to GDP ratio, estimated at a five-year low of 12.8% last year, but most of them have given scant details on how they will do it.
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