Palace: Flip-flops beyond our ambit

THE AQUINO administration on Thursday defended its track record on the business and economic front, saying many of the alleged policy missteps it was being blamed for were actually decided by government bodies outside the executive branch.

In a statement e-mailed to the Inquirer, Palace spokesperson Herminio Coloma also highlighted the gains over the last five years under President Aquino which, he said, had been recognized at home and overseas.

“Most of the points raised in the Wallace report involve actions of courts and arbitral bodies that are not part of the executive branch that is headed by the President as Chief Executive,” Coloma said, adding that two issues in the scathing report pertaining to the Bureau of Internal Revenue and the Manila International Airport Authority originated in previous administrations.

“Be that as it may, the Aquino administration has endeavored to address all of the issues raised in the report in a fair and equitable manner,” he said.

The Wallace report, in particular, scored the Aquino administration for its track record in failing to honor the sanctity of contracts, pointing to several business deals whose terms had been revised or renegotiated in favor of the government over the last five years, to the consternation of the business community.

“Under President Aquino’s leadership, the Philippine economy has become more globally competitive; the country has earned investment-grade ratings; the business environment improved toward heightened customer-friendliness; and, the country is well on its way toward sustaining a high-growth trajectory,” Coloma said.

“We appreciate the inputs and support we have received from the business community as we endeavor to further improve our macroeconomic performance.”

The Palace also e-mailed specific explanations for each of the government deals highlighted by Peter Wallace, a business advocate and think tank head. The explanations will be tackled in the next installments of the Wallace report.