‘Who are Poe advisers? Business wants to know’

Risks of policy reversals in the Philippines would lessen if either Grace Poe or Mar Roxas wins the 2016 presidential election as both have declared that they will uphold the Aquino administration’s themes of good governance, infrastructure spending and poverty alleviation, an economist from Citigroup said.

However, Poe’s credibility would also depend on who her advisers and policy implementors are, said Citi economist Jun Trinidad in a brief entitled “Amazing Grace?” dated Sept. 17, or a day after the neophyte senator declared her run for president next year.

Trinidad noted that Poe’s policy preferences were similar to those of President Aquino.

“Her broad framework of government is basically a clone of President Aquino’s game plan of good governance, strong infrastructure bias and poverty alleviation,” said Trinidad, adding that these policies and Aquino’s PPP (public-private partnership) hype had elevated the President’s net satisfaction rating and enabled growth to exceed 7 percent.

“However, growth inclusiveness remains missing and that may require another six years of good governance, including more reforms as well as strong public and private investments. So if the prevailing policy agenda has led the country this far, perhaps ‘fine-tuning’ is what’s appropriate,” Trinidad said.

But while her policy declarations are laudable, “implementation is the key and it would be challenging for whoever gets to the highest office,” the economist noted.

“The credibility of Senator Poe’s agenda also depends on her advisers, particularly those in the business community,” Trinidad added.

Other than her running mate, Sen. Francis Escudero, who was her late father’s presidential campaign manager, the public has yet to meet Poe’s group of trusted aides and advisers, “who should have the skill set and experience to assume Cabinet positions in her government,” Trinidad noted.

“The key takeaway is that policy continuity risk may diminish with either former Interior Secretary Roxas (Aquino’s candidate) or Poe, who are both inclined to sustain Mr. Aquino’s agenda,” he said.

“Between Poe and Roxas, who practically share the same policy agenda, upcoming surveys will determine who will get a larger share of the pro-government voters,” Trinidad said.

As to whether the lack of nationwide party support would be a major handicap for Poe, Trinidad said money politics is necessary to a candidate aspiring for national office.

“We sense a financial undertaking of this nature would be made available by the business class upon request of candidates who dominate the surveys,” he said.

Some political parties—the Nationalist People’s Coalition, Nacionalista Party, National Unity Party, the Makabayan bloc and a number of party-list groups—appear to be forming an alliance to back Poe’s candidacy.