Espino orders austerity measures for next year
LINGAYEN–The provincial government may adopt belt-tightening measures next year due to the expected reduction of its share from the Internal Revenue Allotment (IRA) by at least P80 million.
Governor Amado Espino Jr., shortly after coming from a meeting of the League of Governors of the Philippines (LGP), announced that they were told by the Department of Budget and Management (DBM) that all local government units will likely see a reduction in their respective IRA shares next year.
The DBM, according to Espino, explained that the reduction will be due to the shortfall in revenue collection from real property taxes nationwide.
The shortfall is currently at 4.8 percent to date.
MORE TAXES
With this development, Espino ordered all municipalities and component cities of Pangasinan to continue collecting more taxes to help plug the expected shortfall in revenue collections of LGUs in other provinces.
“Eighty million pesos is too big an amount to lose, that is why we should be judicious in our spending next year without us sacrificing some of the vital programs and projects for our people,” Espino said.
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