Double the money for cops will cost P63B, Diokno says
If things line up, soldiers and policemen will be the luckiest Filipinos by 2018.
Uniformed personnel better cross their fingers as they will end up the big winners once the tax reform package and the salary hike resolution are approved by Congress.
Budget Secretary Benjamin Diokno said members of the military and the Philippine National Police (PNP) would end up with the biggest gains by 2018, should the stars align in their favor. Apart from the proposed resolution that would increase the base pay for them, they are also expected to take more money home should the income tax brackets be adjusted.
However, all these come with a huge cost to the government, with the salary hike alone seen to cost a whopping P63.4 billion.
“The increase in Base Pay will result to increases in other allowances and bonuses that are computed as a percentage of Base Pay such as Longevity Pay (or Foggy Pay), Mid-Year Bonus, Year-End Bonus, and will effectively discontinue the grant of provisional and officers’ allowances, an interim measure pending the modification of the base pay schedule,” Diokno said in a statement.
He added that on average, all uniformed men and women will see their salaries rise by 58%.
More than pushing for the passage of the bill, the government will also be hard-pressed on funding the higher salaries.