August 8, 2017

Tactical Approach to Funding Free Education Law in the Philippines

Photo by https://www.flickr.com/photos/analogica/8661000014 [CC BY-SA 2.0 (http://creativecommons.org/licenses/by-sa/2.0)], via Wikimedia Commons


Now that the free education law is now approved, the next question arises, how do we fund it? I think the first thing to do first is to have a specific computation (is it really PHP100B?), afterwards tap the budget of other government agencies that does not perform, then turn to private sector. The government can issue bonds related to this project, development banks can help as well since this is a legitimate project. Next is to improve tax collection system, this law now serve as pressure that government should collect every cent of the tax. Other ways is the improve the expense and income efficiency of every government agencies; since the government needs additional budget, expense should be accounted properly and raise the standard of government service to generate more income. In general we have government fund, the bank fund, and the crowd fund – combined it all and we can raise money. And one more thing – lessen the corruption.

To do the math, we are 100,000,000+ population, 100B/100M = 1,000; which means each and every Filipino can contribute P1,000 per year or P83 per month or P2.77 per day to raise 100B – which is feasible.



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