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PM Says No to Cash-Strapped Town Boards #542365
05/15/20 05:40 AM
05/15/20 05:40 AM
Joined: Oct 1999
Posts: 66,973
oregon, spr
Marty Offline OP

.
Marty  Offline OP
The PM estimates that by August, most of the multilateral monies will be in.

For local governments though, there is no such relief on the horizon. they are strapped for cash and forced to send workers home. They've asked government to guarantee and overdraft for them as bridge financing and today the PM said "no can do":

Reporter
"I do understand that they are asking government two things; 1) they are asking if government could offer a temporary bank guarantee on an overdraft that they want to obtain. They are ask to apply, but they need to get a guarantee."

Rt. Hon. Dean Barrow, Prime Minister
"They have approach the banks and they have not approach the banks on that basis. They've approach the banks on the basis that government is to guarantee their overdraft. I am very sorry, but we can't. We are talking about overdraft facilities, it's not even a long-term loan that with some grace period that we could perhaps have a hope of seeing the municipalities begin to repay on themselves and so spearing government from having to find money that it does not have and cannot find. You're talking about overdraft facilities a continuing thing. That's as good as asking government to find the money and give it to them and we wish we could, but we cant. I'm sorry."

Reporter
"For at least for the rest of the fiscal year if GOB would consider offering municipalities duty free fuel or reduction in fuel prices, would this be considered then?"

Rt. Hon. Dean Barrow, Prime Minister
"No ma'am and let me tell you why, I've just gone through the figures and the way revenues are collapsing. One of the most certain of our revenue sources is the tax on fuel. Of course collections have also gone down tremendously even in that regard, because the volume of fuel that is being consumed has drop precipitously, but since we have to pay public officers, we have to operate the government, we have to provide for health, we have to provide for education, we have to provide for security, we cannot give up even the little that is remaining to us in terms of revenue collections. So, again I am very sorry."

Channel 7

Re: PM Says No to Cash-Strapped Town Boards [Re: Marty] #542390
05/16/20 08:01 AM
05/16/20 08:01 AM
Joined: Jul 2010
Posts: 1,445
San Pedro, Belize
Judyann H. Offline
.
Judyann H.  Offline
This is unfortunate.... All of the years we have paid our GOB taxes without hesitation and now our local government requires some financial support, and there are no funds or guarantee drafts available. frown A smart Man had a great idea recently, and I agree with the concept. How about with any new Real Estate Investment there would be Permanent Residency?... The fees can be charged per person at $5,000 a head for up to four shareholders of each property. This will bring in a great deal of revenue to the country on a couple levels. Of course this would require the government to process the Real Estate Investment and the Residency in a timely manner. More importantly it is a huge incentive for foreign revenue that we may not see in tourism for awhile. These investors will spend much more money on other services & supplies, not just Real Estate. We must consider that many tourists are not excited to travel even after the borders are open, if nothing else but to error on the side of caution. However, investors are taking advantage of deals & incentives. We must find a way to bring in new revenue or our economic recovery may not be seen for many years to come.


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