The House of Representatives meets in Belmopan on Friday and the meeting will find government scrambling to increase its revenue collections. There are no new taxes but there is a tax increase on the table and 7NEWS is reliably informed that it will be directed at Bowen and Bowen Bottling as government increases the excise tax. The increase, we are informed, will be modest, however, and nowhere near the $17 per gallon that the unions have recommended. In the last budget excise was increased from $1.80 to $3.60 which resulted in an increase in the retail cost of beer and soft drinks.
At Friday's sitting, government will also look at closing loopholes in the assessment of stamp duty. An increase in rate for land tax will also be passed.
The Prime Minister may also choose to use the platform in the National Assembly to announce a deal that it is believed will be closed this week, the selling of 37% of BTL back to Michael Ashcroft. Government will argue that it tried to work out a deal with the Communication Workers Union, but could not, and has been forced to turn to Ashcroft to meet its critical foreign exchange shortfall. Ashcroft's deal offer the union financing for 20% of the 37% will still stand, as we understand it.
