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IBON Executive Director on the national government outstanding debt as of December 2022

February 3, 2023

by IBON Foundation

IBON Executive Director Sonny Africa on the national government outstanding debt as of December 2022:

'The problem isn't that the debt can't be paid. It can and is being paid.

The problem is that it's disproportionately paid by the poor and middle class -- through VAT, excise and other consumption taxes, underfunded social services, budget cuts in cash assistance.

Fiscal management can be humane -- and billionaires can pay more with a wealth tax.'

VAT - value added tax

consumption taxes debt fiscal management policy national government outstanding debt wealth inequality wealth tax

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