By Aaron Humes: Prime Minister and Minister of Finance John Briceño maintains that Government has not increased its take of taxes at the fuel pumps in response to last week’s rise in prices.
The price increases, he told LOVE FM’s radio hosts on Monday, is solely due to higher acquisition costs. Belize sources its fuel through PUMA Energy, which serves its own station network as well as those of UNO and Sol Belize (Shell).
While it had been a promise of his in Opposition to cap fuel at $9 a gallon, any attempt to reduce fuel taxes now would cost the Government critical revenue it needs for infrastructure, utilities, education and health costs, the P.M. contended, asking, “If we give that up, where are we going to get it back?”
For now, the P.M. said, they are monitoring the situation with Iran, Israel, and the U.S., which has disrupted shipments through the Strait of Hormuz and contributed to the rise in oil prices and subsequently refined gasoline products. Notably, the U.S. is seeking control of Venezuela’s output after removing its head of Government Nicolas Maduro, bringing him to the U.S. to face drug charges.
If prices continue to rise, taxes would be cut to ease national pressure, though impact would likely not be immediate.
The post Prime Minister John Briceño: Government will consider lowering fuel taxes if price rises continue appeared first on Belize News and Opinion on www.breakingbelizenews.com.
By Aaron Humes: Prime Minister and Minister of Finance John Briceño maintains that Government has not increased its take of taxes at the fuel pumps in response to last week’s rise in prices. The price increases, he told LOVE FM’s radio hosts on Monday, is solely due to higher acquisition costs. Belize sources its fuel
The post Prime Minister John Briceño: Government will consider lowering fuel taxes if price rises continue appeared first on Belize News and Opinion on www.breakingbelizenews.com.
