7 News Belize

When the Prime Minister presents the new budget in the next few weeks, we'll know all about what new taxes, if any, government plans to impose. If there are new taxes, it could likely affect the private sector, but today the Chamber of Commerce sent out a press release that didn't admonish against new taxes, instead it reads sort of like a pep talk. It discusses the country's national debt and urges, quote, "Belize must act now! We must begin to make serious cuts to government spending, recover lost revenue, plug revenue leaks and create an atmosphere for economic growth. These actions must beâ€¦relentlessly sustained at least until the debt burden is reduced to around 60% of GDP." end quote. And, the chamber says the belt tightening must even include those tax dodgers in the private sector: quote, "thoseâ€¦who evade or underpay their tax obligations be held to account and that the revenue due to the government, including penalties, be captured in full." end quote. And in that spirit, the Chamber urges, quote, "We must all, including the Opposition, play our part in the Herculean effort needed to bring about the changes that will stimulate the growth of our economy."