Cabinet Weighs $30 Million Cost-of-Living Relief Programme

The Cabinet is considering a $30 million cost-of-living relief programme that could run for at least five months. Cabinet Minister Francis Fonseca told News 5 after Tuesday’s Cabinet meeting in Belmopan that the measures range from expanded social assistance to possible changes in income tax and rent legislation. 

“Some of the measures have to do with social programmes that we have, like the grocery bag programme. Looking at the boost programme, how can we expand that in a targeted way to ease the cost of living that Belizeans are facing,” Fonseca said. 

Rent and utility bills are on the table too. He said, “We’ve looked at the rent legislation because we know housing. The cost of housing is a big issue for Belizeans, the cost of rent.” 

Fonseca also stated that the Cabinet has asked the Ministry of Finance to conduct a deeper analysis of the income tax threshold and propose how “we can perhaps amend that legislation and provide greater relief to Belizeans.” 

The proposed programme would receive approximately $30 million and run for an initial five-month period. Government would then assess the economic situation and determine whether the relief should continue.

The cabinet’s move comes after the Statistical Institute of Belize confirmed Belizean’s cry on affordability. According to SIB’s latest figures, inflation reached 4.7% year-on-year, with higher fuel prices currently at $15.69 a gallon. At the same time, SIB reported that consumer confidence fell to its lowest levels since April 2024.