PM John Briceño: “What We’re Doing is in the Best Interest of this Country”

A five-page letter addressed to Prime Minister John Briceño shares concerns about the government’s plans for Stake Bank Enterprises. The letter was sent by the National Trade Union Congress of Belize (NTUCB) and says that the acquisition is ‘in no way for public purpose.’ The NTUCB criticised the government, saying that it prioritised international investors over Belizean interests and urged resolution through the courts.

The NTUCB suggested that if the government proceeds with the project, it should use the Land Acquisition (Promoters) Act (LAPA), which they believe is more appropriate than the Land Acquisition (Public Purposes) Act. They noted that LAPA “provides for the acquisition of private land by a promoter or developer after an inquiry which shows… the purpose for which the land is required… is likely to prove useful to the public.”

PM Briceño responded to the NTUCB, saying that the project’s public interest and economic necessity, particularly in revitalising cruise tourism. Briceño stated that the completion of the Stake Bank Project represents nearly 4% of GDP, therefore initiating the compulsory acquisition process while ensuring taxpayer protection through a comprehensive indemnity.

In response, the Feinstein Group labelled Briceño’s statements as “gross inaccuracies and misinformation.” At the People’s United Party 74th Anniversary, Briceño said, “I’m not surprised by the response of the Feinstein Group, but I’m not going to go back and forth to them. We have responded to the NTUCB. We firmly believe that what we’re doing is in the best interest of this country.”

Regarding LAPA, the Briceño remarked, “The two parties have to agree, and right now, there’s no agreement,” calling the promoter’s demands “unreasonable.” He stated that compulsory acquisition is the only viable option, which may involve negotiations and court intervention.