Opposition Leader Supports Fiscal Incentives Act

Earlier this week, we heard from Prime Minister John Briceño on the proposed amendment to the Fiscal Incentives Act. It seeks to replace the definitive agreements that were previously entered into by the Government of Belize and developers of mega projects, such as the Port of Magical Belize. The act was introduced in the house at the last sitting, which the opposition boycotted. So, on Tuesday we asked the opposition leader for his thoughts on this proposed legislation.

 

Moses “Shyne” Barrow, Leader of the Opposition

“The U.D.P. government has always been a probusiness government. As a center right party, business is extremely important to us. Investment is important, whether domestic or international. So we have no quarrel in putting in place a framework for those types of massive investments. But we do have a quarrel with the Portico Definitive Agreement that we believe was corrupt from its inception as far as how it was done in the dark of the night without the proper approval from cabinet. And the prime minister himself said it was a binding agreement when we know that Ben Juratowitch disagreed with that, and they really went all out for this agreement that was just giving everything to the foreign investor at the detriment of the Belizean people and against the laws of Belize. We have no difficulty in putting forward a framework where everybody can come and do business at that level, half a billion dollars.  We don’t want to turn away investors, but we want things to be done the right way and maximum benefit to the Belizean people.”