PM says: “We are trying to do everything we possibly can to assist” as cost of living rises

By Zoila Palma:  Belizeans continue to feel the pressure of rising living costs as electricity rates increase and price of fuel remains high.

Prime Minister John Briceño says the government understands the affordability concerns but has limited control over many of the factors driving prices upward.

Briceño pointed to the cost of imported fuel and goods as major challenges, saying the government cannot directly control international prices. “Of course I’m very concerned about affordability, everybody is very concerned,” the Prime Minister said.

The Prime Minister highlighted measures including the increase in the minimum wage, a higher income tax exemption threshold, the expansion of the National Health Insurance program and free education initiatives as efforts intended to leave Belizeans with more money in their pockets.

“The truth of the matter is that we are trying to do everything that we possibly can to assist. Where we can control and where we can help we do,” the PM said.

“We have increased the threshold of exemptions from income tax, that puts more money in your pocket,” he added.

The Prime Minister also defended government’s cautious approach to further increasing the minimum wage, warning that a sharp increase could place additional pressure on businesses and potentially lead to job losses and higher inflation. “We would want to do it from yesterday but it is a process,” he said.

In addition, the Prime Minister explained that Government is considering the creation of community stores aimed at offering basic goods at lower prices.

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