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Feb 10, 2017

Higher Taxes? It’s Inevitable, Says Financial Secretary

Try though they might, Financial Secretary Joseph Waight was typically blunt in speaking to reporters today at the conclusion of consultations on the budget with the unions.  And Belizeans should get ready for possible increases in taxes – it is something, he said, that is “inevitable.” But where will Government look to for possible increases – and how will it balance issues of expenditure cuts that the society is demanding? Waight answered the tough questions in an interview.

 

Joseph Waight

Joseph Waight, Financial Secretary

“No, we can’t rule out – there’s very likely to be a tax increase. What the components are, we don’t know just yet; this is the process we are going through, but at this point in time it is inevitable that there will be increases in some taxes. We are trying to see what items can least impact the economy but at the same time generate the resources needed. There are some rigidities in the expenditure profile – wages, transfers, interest payments, pensions – those things are very hard to compress, leaving what may be more compressible may be goods and services; and you go back to the usual things – fuel, utility usage, and also procurement; more efficient procurement of goods and services for the Government of Belize. But there’s a small menu of things you can really look at to squeeze down expenditure because there is so much rigidity in the system.”

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3 Responses for “Higher Taxes? It’s Inevitable, Says Financial Secretary”

  1. spike says:

    Instead of raising taxes, why not cut expenses? One costly expense, for example, is all the government money spent on legal fees and compensation pay outs caused by corruption within in the Lands Dept.

  2. Kay says:

    When all those million dollar loans were being written off they weren’t thinking what would happen further down the road!!! Government was too willy-nilly with the peoples purse then…now they trying to dig it out of the rest of us that paid our loans!!! To HELL with you all!!!

  3. Clue says:

    Kay, agree with you but too many of the ignorant, illiterate Cruffy thought that UDP was doing this country a great service by doing this. I commented on this issue in prior posts. UDP was the “win the elections by any means necessary” mentality and now you all will live to pay for it.T This crowd steals blatantly, flaunts it in your face. You saw what Mark King thought of you fools when he lost and posted on Facebook. Recently, was privy to hear John Saldivar say at an establishment in Belmopan that if he were to lose he had enough to sit at home and live off of. BELIZE IS BROKE! WE CAN’T GO ANYWHERE ELSE TO BORROW MONEY! HARD TIMES JUST START.

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