Problem
After more than six hours of interpellation, the Senate on Monday night approved on second reading a bill granting San Miguel Aerocity Inc., a subsidiary of San Miguel Holdings Corp., a franchise to construct and operate the New Manila International Airport and an adjacent Airport City in Bulacan.
Senator Grace Poe, sponsor of House Bill No. 7507 in the upper chamber, assured her colleagues that the expected foregone government revenues due to the tax incentives that will be given to the developer during the 50-year franchise would be compensated by the projected economic growth in the province.
"At this point, without the airport, there really won't be any income that would be comparable to one if there already is an airport. I don't think there is any foregone income to begin with because there is no airport there yet. We're not losing anything, in fact we are gaining," Poe said.
The developer projects to make a P50-billion profit in ten years following the first ten years of the franchise which would be dedicated for construction, she added.
Once the franchise bill is signed into law, the construction of the P735-billion airport project shall commence within a year, according to Poe.
Task
a) In your opinion, does the construction of San Miguel Aerocity Inc. will boost the economy of the Province of Bulacan? Support your answer.
b) Does the construction of the San Miguel Aerocity Inc., will have an environmental effect? Specially in the near-by barangay and town?
c) Do you agree in the construction of the airport? Support your answer.