Just before the start of our evening newscast, Prime Minister John Briceño wrapped up the debate by responding to some of the criticisms raised against his budget.
Here are a few of the topics he addressed:
Hon. John Briceno - Prime Minister
"The Leader of the Opposition's Party was in government for 13 years. No party has enjoyed 3 terms in a row, since Independence. Time and again, his father and members on that side who survived the last elections boasted about this. This is his boast now. This is not the boast now of the member from Corozal North. Over those 13 years, his UDP government spent over 14 billion dollars, more than an overage of 1 billion dollars per year. And what does the country have to show for it? Poverty is at a historic high. In 2018, 52% or more, measured by recent estimates, That's 1 out of every 2 citizens are considered poor? What was the rate in 2008, it was around 34%? But, your people spent 14 billion, and yet, poverty increased by almost 20%. All factual records show that the poverty rate increased from 34% to over 50%, during their 13 years in office, and after spending 14 billion dollars. Now, did they use the 14 billion dollars to pay down the public debt? Of course not. When they were thrown out of office, just like poverty, the public debt was at a historic high. Look at the UDP's shameful record, debt to GDP ratio: 137%; debt: 4.2 billion dollars, more than 1 billion dollars in new, domestic debt alone. Domestic debt simply means that you have the Central Bank print money. And of that billion dollars, Madam Speaker, from 2017 to 2020, the UDP had the Belize Central Bank print 700 million dollars in treasury bill and treasury notes, let me repeat, 700 million dollars, from 2017 to 2020, to pay for their bankrupt budget."
The PM completed his wrap-up comments a few minutes ago, which means that the budget debate is over. But, that's not the end of today's proceedings. The House Meeting now continues with the consideration of other motions and bills for second reading.
