Diokno shares infra program, budget reforms with Australia’s top Cabinet officials

BUDGET Secretary Benjamin Diokno (right in photo) met a number of Australia’s top Ministers, including Treasurer Scott Morrison, Foreign Affairs Minister Julie Bishop, and Regional Development and Local Government Minister John McVeigh, and Department Secretaries John Fraser of the Treasury Department and Michael Pezzullo of Home Affairs, during his participation in the Special Visit Program to Australia held from May 20 to 27, 2018.

Diokno discussed with Treasurer Morrison ( left) the Philippines’ growth outlook and the Comprehensive Tax Reform Program (CTRP). Morrison congratulated him on the passage of the Package 1 of Train law.

He shared that Australia is also in the process of reforming their tax system. Like the Philippines with Package 2 of the CTRP, Australia seeks to lower Corporate Income Tax from 30 percent to 25 percent to become more globally competitive.

Diokno also met with highlevel budget officials, Finance Department Deputy Secretary David Fredericks and First Assistant Secretary Amanda Lee, who shared with the Philippines’ budget chief their most important budget policies and reforms.

Diokno thanked the officials for the assistance of the Australian Government in Public Financial Management (PFM) Reform in the Philippines. He shared that many of the reforms they have introduced are now being implemented and will soon be institutionalized through the legislation of the Budget Reform Bill.