The budget is going to be read within the next two weeks - the latest
date in Belize's independent history. And that's because election were
in February, just before the date of the due budget and the new government said
it had to get what had been a chaotic house in order before it proposed a new
budget. And after a first of its kind series of national consultations led by
senior Finance Advisor Dr. Carla Barnett, right now Ministry of Finance technicians
are putting the final draft together. Set in lean times made worse by a crushing
cost of living, the Prime Minister today told us that his first budget will
have some slender offerings to ease the burdens.
Hon. Dean Barrow, Prime Minister
”What you can expect in the budget for one is no new taxes. For two,
the government’s attempt to cushion the blows that people have had to
suffer as a result of the increases in the cost of living, fuel and food prices.
We are going to be manipulating the GST, we are going to be taking GST off prescription
medicines, and off doctor bills period. We are going to be removing whatever
duty exists on fertilizers, because again we want to spur the productive effort
clearly in agriculture.
And there are going to be particular programs, particular measures, such
as the $300 subsidy to people going into high school, into first form, and things
we are going to do particularly for single mothers that will indicate that this
government is determined, even though it has no control ultimately over the
food prices increases and the fuel price increases, this government is determined
to do all that it can, and this will be significant, the all that it can do
will be significant to, as I say, ameliorate the difficulties that especially
the poorest of the poor are experiencing as a consequence of the increase in
food and fuel prices.”
As for the $50 million in budgetary support from the Taiwanese, the
Prime Minister says he should get half of that this week and the next half will
be handed over in August. The date for the budget presentation has not been
finalized; the Prime Minister told us it is either July 11TH or the 14TH. By
law, the budget has to be passed before the end of July.
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