Drivers across the country felt the squeeze again at the pumps this week. Monday brought yet another fuel price hike, Belize’s third increase in just a matter of weeks, and for many motorists, it’s hitting hard. But Prime Minister John Briceño says government is already cushioning the blow, absorbing tens of millions of dollars in lost revenue by cutting fuel taxes. He insists consumers are not paying the full cost of these increases, even as global fuel prices continue to climb.
Prime Minister John Briceño
Prime Minister John Briceño
“As to fuel, we have been cutting the taxes. We have been giving up about sixty million already. That is what I said, sixty million, in the house. I think now, we just gave up on gasoline, on premium. We just gave up some taxes on premium. We are not giving the entire increases to the public. We are cutting. I believe that happened on Sunday. I think that when include that it will be close to eighty million dollars. We are getting two hundred dollars from excise taxes on fuel. So it is a big lick. It is hurting us. I had the Ministry of Finance prepare a Cabinet paper to our colleagues so our colleagues could also, they know, but I want to make sure they understand, guys we need to look how we are going to spend. We need to see where we can curtail spending. We need to do the car pooling with government employees. They say they are all up and down, if they can carpool to reduce the fuel. We already have a system in place where we track your vehicle and after hours shut it down. That already is saving a few million dollars. So, we need to look in every which way where we can curtail. If there are certain areas in Capital Two spending where we can hold back, at least until we know what is going to happen, then we will do so.”
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