Journal Online - CCT a failure — Marcos

News & Interviews
7 December 2015

By Bernadette Tamayo | Journal Online

Featured-Image-Journal-Online.jpgSenator Ferdinand Marcos, Jr. has urged the government to rethink the Conditional Cash Transfer (CCT) program and spend its funding on basic infrastructures that could generate more jobs and spread the benefits of economic growth to more people.

He noted that while the government has been “trumpeting a “remarkable growth rate of our economy, its benefit is hardly felt by the majority of our people.”

“You cannot add jobs if the economy is not growing. Now we hear that we are growing at a remarkable rate, but it is not felt by ordinary people. It is felt by big corporations, it is felt by rich people,” said Marcos in a forum.

“There is a very serious failure in the policies for the distribution of wealth,” he said. He lamented that despite spending P65 billion this year on the CCT program, there were “no significant improvements in the poverty rate, literacy rate and mortality rate in the country.”

“We have probably arrived at a point of diminishing returns. Maybe that money can be used for schools, for hospitals, for roads, for bridges, for power plants, for the improvement of the internet, a new airport, more ports—all of these things are doable,” said Marcos, who is seeking the vice presidency in next year’s general polls.