"I heard that a resolution has been filed in the Senate calling for the suspension of excise tax increase due to high inflation. We are open to it but we have to consider what is in the TRAIN (Tax Reform for Acceleration and Inclusion) law," Go said in a statement. We are considering the fact that the suspension of the excise tax increase would lead to maybe about P40 billion loss for the government. "The government is looking into all available options to cushion the effects of rising oil prices," Go said. 'Early announcement of suspension mechanism'Finance Assistant Secretary Tony Lambino said Duterte made an early announcement on the suspension to "anchor inflation expectations."

Source: Philippine Star October 14, 2018 09:22 UTC