MALACAÑAN PALACE
Manila
11:00 PM
February 11, 1971
Thursday
Met with the businessmen this afternoon at the house of Charlie Palanca at 4:00 PM. We explained the housing, employment, rural electrification and tax programs. Bert Teodoro and Ting Roxas for the first, employment by employment, rural electrification by Ronnie Velasco and taxes by Sec. Cesar Virata.
Enriquito Zobel opposed the investment in housing of 40% of the funds of insurance companies as he claims this would mean they would have to close up. Taxes were discussed actively and we have asked Sec. Virata, Gov. Licaros and BOI Chairman Paterno to constitute a committee to meet with businessmen on taxes; the Council of Economic Development to be the committee on housing and Ting Paterno, Ting Roxas, Dave Sycip, Jobo Fernandez and … for employment.
The opinion is developing that what the Philippines needs is a benevolent dictator although such people like Armando Doronilla believe I am not the man who can be the benevolent dictator.
The people are talking of this openly and discussing it in the forums of TV shows. Some day soon I must make a decision on this.
Ambassador Byroade sent word that he has asked for the recall of Minister Finn for discussing or revealing the secret matters that we (Byroade and I) have talked about. I must talk to him about it. Byroade sent word through Col. Ver.