By Breaking Belize News Staff (HP): Prime Minister John Briceño says Government is exploring whether more can be done to ease the burden of record diesel prices, but warns that cutting fuel taxes further would mean giving up revenue used to finance public services.
Diesel was selling for $15.60 per gallon in Belize City this week, surpassing the previous high of $15.49 reported in May.
Asked whether motorists can expect relief, Briceño said he planned to consult the Financial Secretary.
The Prime Minister acknowledged that governments have traditionally relied on excise taxes collected on imported fuel as an important source of revenue.
He said his administration has already reduced the tax burden on fuel and estimated that those measures have cost Government more than $40 million in revenue, while noting that the exact figure would need to be confirmed.
Briceño said the challenge is finding a balance between reducing the price paid by consumers and maintaining enough revenue to fund Government programmes.
He specifically pointed to education, healthcare, infrastructure development and social programmes as areas that depend on public revenue.
The Prime Minister characterized the situation as a “fine line” between maintaining Government’s financial sustainability and providing relief to Belizean consumers.
The comments leave the possibility of additional fuel relief open, but Briceño did not announce a specific reduction or timetable.
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By Breaking Belize News Staff (HP): Prime Minister John Briceño says Government is exploring whether more can be done to ease the burden of record diesel prices, but warns that cutting fuel taxes further would mean giving up revenue used to finance public services. Diesel was selling for $15.60 per gallon in Belize City this
The post PM says Government walking “fine line” as Belizeans seek relief from $15.60 diesel appeared first on Belize News and Opinion on www.breakingbelizenews.com.