'No overregulation' of businesses under Lacson-Sotto administration, senators say

ABS-CBN News

Posted at Aug 05 2021 11:37 AM | Updated as of Aug 05 2021 12:26 PM

Sen. Panfilo Lacson and Senate President Vicente Sotto III. File
Sen. Panfilo Lacson and Senate President Vicente Sotto III. File

MANILA— There will be "no overregulation" for businesses under a Lacson-Sotto administration, the senators vying for the country's top posts in next year's polls said Thursday.

Sen. Panfilo Lacson said he would "leave the businesses sector alone and impose the laws" if he elected president.

"Offhand, there will be no overregulation. Sanay na sanay tayo, ang gobyerno natin gusto mag-overregulate para may grease money," he told ANC's Headstart.

(We're used to government overregulating so there would be grease money.)

"Kung may excess, sobra sa kanilang ginagawa (if they're doing something excessive) then that’s the only time government should come in."

Lacson also said government should cut spending when asked about the country's P11-trillion debt.

"First we have to balance the budget, to balance the budget you have to cut on spending and you raise taxes. 'Yung raising of taxes medyo (the raising of taxes is) out of the question... We have to focus on cutting on spending. 'Yung mga excessive expenditures na wasted (cut excessive expenditures that are wasted)," he said.

The country had an average gross borrowing of nearly P1 trillion from 2017 to 2019 and had annual appropriations of P331 billion on average, Lacson said.

"It doesn't make sense to borrow at least P1 trillion a year only to use P331 billion. There’s no sense... Review natin ang 'di nagagamit at medyo misused or abused tanggalin natin," said Lacson, among lawmakers who have been watchful of the national budget every cycle, questioning alleged insertions. 

(Let's review unused funds and remove misused or abused allocations.)

Senate President Vicente Sotto III, his running mate, said they would know how to implement well the laws that they passed.

"We already passed the laws on helping the government. It’s a matter of implementing it well. We know these laws, kami ang nagpasa eh (we passed it)," he said.

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