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Dec 13, 2016

No New Taxes: 2017 Budget Will Be Lean & Mean

Dean Barrow

Will there be a tax increase in the upcoming 2017 fiscal budget?  In light of grave economic conditions, the possibility of a hike in existing taxes is very real.  Today, the question was put to the prime minister bluntly and he responded by saying that government’s focus will be on trimming the fat, as opposed to burdening taxpayers with additional expenses.

 

Prime Minister Dean Barrow

“What is most important is that we engage in the expenditure cuts that are necessary to whip this budget into shape. Once cannot discount the possibility of revenue raising measures, but while the Ministry of Finance and Doctor Barnett are in fact very closely consulting with the private sector, with the unions through their membership on the Cost Savings Committee as well as on the Revenue Raising Committee, I don’t know that I can venture any opinion as to the specifics. We clearly need to see what the consensus is in consequence of the consultation. Everybody knows what the objectives are and the idea is to try and secure those objectives with the minimum of disruption and certainly that is the minimum of pain. So while acknowledging that there is a problem that must be addressed, I don’t think it is quite fair to give the impression that the sky is falling. We have to take some measures, we have to take action, but I believe we can do so in a way that will concentrate rather more on the cutting of fat, the elimination of waste than on burdening the Belizean public with additional taxes.”

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1 Response for “No New Taxes: 2017 Budget Will Be Lean & Mean”

  1. po bwoi says:

    Yea sure,after the budget next yr,we will see how many ppl will get fired,spike in fuel prices etc,while they and their inner circles enjoy the duty free luxuries,free fuel etc

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