Do not cut, grow the economy: Michael Peyrefitte

As of the ongoing debates on Belize's budget, during the National Budget Debate Session on April 28, Senator Michael Peyrefitte stated, "Don't cut, grow the economy."

Belize: As of the ongoing debates on Belize’s budget, during the National Budget Debate Session on April 28, Senator Michael Peyrefitte stated, “Don’t cut, grow the economy.”

He added, “When you cut people’s pay, can you imagine the effect, the multiplier effect of 80 million dollars taken out of the economy by the government, the number one employer and spender in the country? You’re making things spiral even more downwards.”

He further stated an example and cited, “When you take 80 million dollars out, it is 80 million dollars less than people can spend, it’s less tax revenue, less business, fewer people buying from the private sector, so the private sector has to fire people.”

He even said that “It doesn’t make any sense, to take money out of an economy during a pandemic. Where is the logic in that?”

“The United States of America, 1.9 trillion dollars they pumped into the economy because now is not the time to take away from people. Now is the time to give to people, so they can spend. When you are going through a tough spot, you know what you do? You keep going. You don’t stop. But this government has presented to this country no good plan as to how they are able to bridge us to the next couple years, and they’re economic plan going forward,” -Michael Peyrefitte during the budget debate.

Concluding his speech on the budget session, he further asserted, “There is no plan of the government. You don’t have to cut anybody’s pay, you know, Madam President. Don’t cut anybody’s pay. Grow the economy.”

“Come up with ideas to grow the economy. Offer the people some hope. Do something. Come up with a crazy idea or two to say, and this is what we plan to do to raise some revenue, especially some foreign income. But, nothing. Nothing.”

He questioned the government, “Where is the PUP plan for the economy? Where is it? You have none.”