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May 26, 1998

P.U.P. states position on trade and investment

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And while they may be studying the latest tax proposal, members of the People’s United Party have been speaking their mind about other matters of economic importance. On Friday night in Orange Walk Town P.U.P. leader Said Musa outlined his party’s views on investment, production and trade. The occasion was the fifth meeting of the People’s Assembly and Musa made it clear that his party was more concerned with expanding the economy than raising taxes on the private sector.

Said Musa, Leader, P.U.P.

“In order to achieve greater production and create new jobs, we must have investment. The present savings base of some BZE $650 million is quite insufficient to enable us to produce enough to improve our standard of living. The P.U.P. will bring about significantly higher levels of investment in order to diversify the production base and make Belize more competitive in the international marketplace, by the stimulation of local savings and the attraction of foreign investors.

We in the P.U.P. are convinced that the investor confidence destroyed by the U.D.P. government can be restored relatively quickly by the measures we will take, and in a matter of months we are confident that we can attract some US $100 million in local savings and investment instruments which will significantly expand our production base and provide greater opportunities for employment, home ownership and other investments that will improve the lives of all Belizeans.”

One P.U.P. proposal for stopping the flight of capital abroad is to allow Belizeans to open U.S. dollar accounts in local banks.

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