Malacañang hit back at Albay Governor Joey Salceda on Thursday for breaking his word and leaving the administration party for no reason except for apparent political expediency.

Deputy Presidential Spokesman Gary Olivar said Salceda shifted support from administration standard bearer Gilbert Teodoro to Liberal Party’s Sen. Benigno Aquino III not for economic reasons as he claimed.

Olivar tried to downplay Salceda’s argument for leaving Lakas-Kampi-CMD party that an Aquino presidency could result in almost P642 billion in private investments.

He pointed out that a Teodoro presidency would likely generate the same investments or more if the second quarter survey of ING Bank of foreign investors would be the basis.

The survey showed 28 percent of foreign investors expressed preference for Teodoro, a sharp improvement from only 17 percent in first quarter poll.

Thirty-seven percent of the respondents, on the other hand, favored Aquino as the country’s next president.

“If P642 billion of new foreign investment would follow an Aquino victory, then we could expect three-fourths of that amount, or P482 billion, to follow a Teodoro victory. The difference, or P160 billion, is the real value of Governor Salceda’s word. He’d be willing to break his word in order to capture that additional P160 billion,” he said.

Olivar however quickly added that it was still possible that Teodoro could catch Aquino and the difference between them could narrow down to zero by election day.

“If that were to happen, then the value of Governor Salceda’s word would also go down to zero. This is an ex post valuation, of course, not ex ante. Walang kapalit na halaga ang pagbaligtad niya, walang halaga ang salitang binibitawan niya. This is something that the governor would understand as an analyst but unfortunately he is also a politician and politicians are ruled by a different calculus than analysts,” he said.

On Salceda’s promise to support other local candidates of the administration party, Olivar said this was something the party could rely on. “After all, he has given his word for it, his palabra de honor,” he said in an apparent sarcastic manner.

Olivar admitted that President Arroyo may have been disappointed by Salceda’s decision to leave the ruling party. He said the President is expected to talk to Salceda, one of her close economic advisers, and "clarify things."

He said former Budget Secretary Rolando Andaya Jr., who reaffirmed loyalty to the administration party, and not Salceda should be the "role model" for other party members.