Tomorrow marks the first GST free day following GOB's announcement of a tax waiver, so you're likely to meet crowded stores and supermarkets. And while the government is anticipating a 5 million dollar loss in revenue, the PM said that the joy of Belizeans this Christmas season is worth it. However, he's hoping that it's more of an incentive for those who usually shop in Chetumal to keep their money at home.
He also told us that he's not expecting stores to hike up their prices on the GST free days.
John Briceno, Prime Minister
"It is estimated that it's going to be a minimum of $5 million that we're going to be foregoing but we believe that by Belizeans not going to Chetumal, that we would keep their money here, we can make up for a portion of the losses. We believe that by Belizeans quite likely since they're saving 12.5% and up, they are going to spend more, so they're going to be able to help us. But also there's something that you can't put monetary value on and that is the joy of families and the joy of children being able to get a gift or spend a happier Christmas. There's no monetary value for that so it is something that we fully recognize and know that we could do with the money but at the end of the day it is about serving people and making them feel good about themselves. When you look at Belize City, when they lit the Christmas Tree I think it was 2 weeks ago, thousands of people were out there, Belmopan had a wonderful one, tonight we're going to do one in Orange Walk Town in Las Banquitas and the Orange Walk Central Park, the way it has been. Many of the towns and cities across this country, when you light up and give this festive spirit."
"It makes people feel good and right now you feel this sense of togetherness, this sense of optimism in Belize and you can't put a monetary value on that."
Courtney Menzies:
"Do you anticipate that businesses will try to take advantage by price gouging?"
John Briceno, Prime Minister
"Well we're hoping that they don't and they'd be foolish if they tried because people are competing right now and so that if someone is price gouging in one area, they're going to go somewhere else. I saw the interview that you did, your TV station and when they spoke about that Mikado and the other supermarket said, we're not going to raise, actually we want to give a discount so that we could get more business right now because people are spending so I do not foresee that but if that were to happen and we get the evidence, we're going to go after these people."
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