7 News Belize

PM Responds To Petrocaribe Critics
posted (March 27, 2015)
The budget debate finished at 6:00 pm - and at this hour, the house is debating the Petrocaribe Loans Bill. As per custom, the Prime Minister wrapped up the debate where he challenged the PUP's two principal criticism of the budget: that it was a tax and spend budget and that it relied all on loans - we have this courtesy WAVE TV:

Hon. Dean Barrow, Prime Minister
"That we are a government of taxation. You see why I have to accused them of being ignorant and then they get vex? Ignorant, meaning they lack knowledge. My goodness man, the records are there. This government has not imposed any new taxes for the last 5 years. Then the second one was that we borrow. Well Mr. Speaker, of course we borrow. There is no government in the world that doesn't borrow. There is nothing wrong with borrowing, so long as you borrow on the right terms and conditions. So long as you borrow in the right way. So long as you borrow in the UDP way."

"A part from the super bond, which by the way is 48% of the total debt stock. Super bond that is squarely and eternally on you. A part from the super bond, our debt stock is comprised exclusively, wholly, completely of concessionary borrowing. You know the member for Cayo South, he has been scolded by the southern caucus, said that Petrocaribe is like an addict or is addictive and we are addicts because we use Petrocaribe. Again, would you allow me to shed some light on your ignorance sir? Petrocaribe is only responsible for 4 cents out of every dollar that the government of Belize spends. I don't know how you can call that an addict? Check your facts, check your figures. Mr. Speaker, we have spent their money, not just wisely, but transparently. In fact, that's one of the reasons that they are so frantic, they are so put out that they get into these fits and paroxysms of anger, because we continue to talk over and over about what we do with the Petrocaribe money. We are not hiding anything and people compare and contrast. That is why they have lost every single election since 2003."

And later on - also courtesy of WAVE TV - we'll have a few clips form the debate on the petrocaribe loans motion.

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