October 8th, 2022
The most important accomplishment is the resumption of face-to-face classes. That is supremely important for both solving the learning crisis and returning a sense of normalcy to our economy.
At the same time, steps taken towards solving the problem of teachers’ debt is also a major development. Once the DepEd’s efforts are complete, teachers will have better representation in the GSIS, and we could offer more refinancing products and more sustainable lending practices.
I offer to my friend my continued encouragement. Education reform is a marathon, not a sprint. We will have to overcome decades of neglect in the education sector.
We spend around 3.2% of GDP on education, which makes us 144th among all countries. While money doesnt guarantee good educational outcomes, the right amounts on the right priorities do. So, we still need more fiscal resources for education, something I’ve discussed with my counterpart in the Senate, Senator Gatchalian.
We have Fiscal Resources for Health – through sin tax collections. But our real property tax collections, from which the Special Education Fund derives, remain inefficient. So, reforming our real property valuation, taxation system is in need of urgent reform. We also need other dedicated revenue streams for education. I think idle land taxes could be a potential source of revenues for education. We are continuing to study this, and hope to engage DepEd further.