What will Belize give up with Nature Conservancy deal?

By Aaron Humes: According to Michael Peyrefitte, Belize is not giving up much with the Nature Conservancy deal if it goes through.

Stamp duties are $7 million, recoverable in a few years; land tax is estimated according to Shyne Barrow at $20 million over 50 years or $150 per acre, and the carbon credits will help pay for the management of the area well beyond the estimated value of US$350 million (BZ$700 million).

Speculation tax is applied to land not being used, which this land will be, and in any event, the Government cannot, or should not, tax itself.

Peyrefitte did concede that his administration should have been more open about the deal, but the Prime Minister at the time considered such things “part for the course” and not something to be bragged about.

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