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Jakarta and Washington release deal framework while US president says Philippines will pay 19% rate

We must not repeat the mistakes of the appeasers in the 1930s

Taxpayers will bear most of the cost and risk, while most of the funding is in the form of government loans

Josh Gruenbaum aims to create ‘market tension’ for tech groups and consultancies despite complaints from companies

Move announced as government also appoints commission to look at boosting retirement savings