The First Steps

• In the middle of this current crisis, the economy needs new impetus. We will immediately introduce an emergency programme of investment in infrastructure, in public works and in social housing and other social services in order to get companies and people back to work, thus reducing unemployment over the next two years.

• The control of inflation and the institutionalization of a stable climate for industry to plan and prosper in order to lead to long-term prosperity is a major objective. To accomplish this, we shall ensure that the Banko Sentral ng Pillipinas (BSP) remain steadfast and independent with regards its primary responsibility of maintaining a stable policy consistent with the requirements for price stability.

• Environmental priorities will be built into all economic decision-making, ensuring that economic success goes hand in hand with environmental responsibility. We will introduce new environmental incentives.

• The Philippines’ political institutions need major reforms; stable and representative government, further decentralization of power to local governments, and greater respect for the Bill of Rights. As an essential measure to secure and entrench lasting reform we will introduce fair voting by proportional representation for all elective offices and fully implement the modernization of our elections.

• The skills and capabilities of the Filipino people must be adequate to meet challenges of the new century. We will increase investment in education and work training. The main objective will be to provide our citizens with dignified employment.

• The poor and disadvantaged deserve greater security in these difficult times. We will introduce welfare programs to compliment and protect private pension, provide comprehensive health care to the needy and introduce self-help programs for the most needy.

Only when these key steps have been taken will government and individuals alike be able to plan for the long term, instead of focusing on the short term.