And while Superbond jitters are real, another matter making Belizeans nervous is the upcoming budget.  In a recent meeting with the trade unions, the Financial Secretary indicated that the fiscal adjustment needed to produce $105 million in the upcoming fiscal year. What this means is that out of our taxes, the Government intends to raise that much money which can only means one thing – tax increases. PM Barrow also discussed this matter.

Screen_Shot_2017-02-20_at_8.10.14_PMRt. Honourable Dean Barrow Prime Minister of Belize

“How do we achieve that adjustment clearly by increasing revenue and by slashing spending.  How do you increase revenue? In our case we’ve said that we have to rely a great deal on enhance more effective revenue collection methods, no doubt that alone won’t necessarily cut the mustard but until we have worked out properly and all the public officers are currently completely focused on that, until we have worked out thoroughly exactly what the mix must be to get us over the top I don’t think I should say anything more clearly all options are on the table.”

If you noticed the Prime Minister trying to dodge the politically-charged three letter word, so did we. There will be increases in taxes, and the economic indicators all say so, is he so concerned about the public backlash of admitting the upcoming hard times and hoping to contain it to the House sitting days? The PM claimed that wasn’t the case. He said he thinks talking about taxes less than three weeks to the day he reads the budget is talking out of turn.


Rt. Honourable Dean Barrow Prime Minister of Belize

“It’s not a matter of trying to postpone some reaction to what will happen such a reaction is inevitable, it is genuinely that I believe that a difficult situation must not be further complicated by talking out of turn even in advance of our having finalized the details we are honestly working on that and I am saying that I am not going to lie to people all options are on the table but I need to reassure the public that there can be absolutely no doubt that whatever we do, whatever pain it involves we will absolutely keep to a minimum and having in mind first and foremost the interest of our people, the middle classes, the workers, the productive sector and the business community at large saying that underlines how difficult a balancing act it is going to be and currently is but I know that there is complete good faith on our part to get the country out of the difficult situation, the difficult circumstances it currently is in with as I said minimum disruption and with an effort to be as fair as we possibly can be in the circumstance to all our people.”

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