Marinduque Rep. Lord Alan Velasco has been elected by 186 congressmen as the new speaker of the House of Representatives on Monday.

The 186 congressmen assembled at the Celebrity Sports Plaza to hold a meeting to oust Speaker Alan Peter Cayetano.

''Today's events would ensure that the President's call for a timely, legal and constititutional approval of the 2021 budget would be complied with,'' said Velasco in his acceptance speech.

''I would like to extend my hand to Speaker Cayetano and hope he would like to sit down with me for a peaceful transition,'' he added.

Last week, President Rodrigo Duterte urged lawmakers to set aside politics and hold a special session to pass the budget

Cayetano, who held a press conference at the House of Representatives while the 186 congressmen met, described the meeting as '' a circus'', adding the proceedings sets a ''very, very dangerous precedent.''

He said 205 congressmen support him.

Cayetano described the Celebrity Sports Plaza proceedings as '' a social club that violated IATF rules.''

He said he is ''constutionally bound'' to preside over the session, set October 13-16 which was called by Duterte on Friday to pass the proposed P4.5 budget.

Presidential Spokesperson Harry Roque appealed to lawmakers to set aside politics and pass the 2021 national budget.

In a briefing Monday, Roque said: " Set aside ambition and serve the nation.''

Under a term-sharing agreement Cayetano was supposed to be speaker until October 14, 2020.

But after the House approved the budget on second reading on October 6, Cayetano suspended sessions until Nov 16. He formed a small group of congressmen to accept committee and individual amendments to prepare the General Appropriations Bill on third and final reading next month. DMS