PM Briceño promises no new revenue measures & delays increase in SSB contributions!

Prime Minister John Briceño

And while the government intends to reveal its plans for economic recovery in 2021, following a round of consultations– Briceño  assured Belizeans that the government will not be imposing any new revenue collecting measures. He went as far as saying that they have decided to postpone the increase of social security contributions which was to come on stream next month.

John Briceño, Prime Minister

“Next week, we will present a supplementary budget in the House of Representatives and present revised estimates of revenue and expenditure for the last quarter of this very unusual year. We will not propose any new revenue measures. We will also present bills to the house which initiate our reformed agenda. These bills will be tabled and referred to committees to give interested persons an opportunity to consult and offer comments on our proposals. In an effort to stimulate more economic activity and ensure that employees have more disposable income, and employers more finances to operate, we have consulted with the actuary of the social security board who has advised that we can defer the dual increase of the ceiling and contribution rate scheduled to begin in January 2021. Therefore, As the Prime Minister and Minister responsible for Social Security, along with Cabinet, we decided to postpone the increase in payments due in 2021.”