Sustainable growth plan for Belize recovery

Sustainable growth plan

Image from Pixabay.

PRAYER ALERT for sustainable growth plan. The very morning after we at BC-HOP prayed for God to release His plans to prosper us, and not to harm us with further recession, I received a comprehensive sustainable growth plan by email. BCCI (Belize Chamber of Commerce & Industry) had combined its research with that of other business, tourist and labor organizations. Based on this research, BCCI has proposed to GOB (Government of Belize) and stakeholders a three-pronged approach to pay off our onerous $2.3 billion Superbond debt and boost recovery.

  • Enforce tax & duty collection.
  • Increase GOB cost-efficiency and reduce waste.
  • Stimulate economic growth with plans for creating and circulating wealth.

We had prayed for these very strategies. Now here they appeared, packaged in a sustainable growth plan with 43 specific recommendations. They come not a moment too soon. Today Belize owes a US $26.6 million payment on its Superbond and doesn’t know how to pay it. We must reassure our creditors and the world that we have a sustainable growth plan that works. Below are some key features of the BCCI plan.

  • Promote frequent GST (General Sales Tax) raffles of cash. The more frequent, the more possibility of winning, and therefore the more will participate. The more consumers who participate, the more they will buy goods and demand that vendors provide GST-included receipts for the raffle. (Consumers can call a hotline to report businesses that refuse to provide GST-included receipts.) The more vendors who include GST in their receipts, the more revenue GOB will collect.
  • Tax food items which contribute to preventable lifestyle diseases. This will promote better health and cause savings to the national health budget.
  • Raise the too-low retirement age from 55 to 62.
  • Give breaks to those who owe land tax and other debts if they meet deadlines, so they will come forward to pay long-due taxes. Send professional collectors after those who refuse to pay.

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DailyInsight. Seek wisdom first, and you will also get wealth. Seek wealth first, and you will lose both (see 1 Tim. 6:6-10).

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Keyword: sustainable growth plan.

 

Belize has been in great need of a sustainable growth plan.

 

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