Gov’t expecting boost to coffers this year

| 12/04/2019 | 20 Comments

Cayman News Service(CNS): The government is expecting to increase revenue significantly next year over and above the originally forecasted earnings. Last week legislators voted to appropriate over $93 million more for public spending this year but the government is still expecting a surplus of more than $60 million. Despite voting an additional $53 million in operating expenses and more than $40 million for capital expenditures, as confirmed by Finance Minister Roy McTaggart, the government is now predicting considerably more revenue than it did when it produced the 2018/19 budget back in 2017.

The full details of where the expected increase of some CI$100 million is coming from has not yet been detailed, though CNS has made a request for this information and the ministry has confirmed that it will be forthcoming.

There may also be more information revealed in the Legislative Assembly on Friday, when the finance minister and Premier Alden McLaughlin are scheduled to deliver speeches on the Strategic Policy Statement. That document will layout the policy groundwork that will shape the final spending plan and budget of this administration up to 2022.

It will also provide an opportunity for the government to update the public on the current state and future expectations regarding government earnings.

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Category: Government Finance, Politics

Comments (20)

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  1. say it like it is says:

    Time to give our hard working, dedicated, conscientious, loyal,law abiding,highly intelligent, responsive, proactive world class civil servants another pay rise to recognize all these qualities.

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    • Anonymous says:

      spoken like a true lost civil servant…
      for truth, read miller shaw or e&y reports….. or any audit report ever done on the workings of th civil service

  2. Anonymous says:

    Thank you Unity Team as you are the best government we have ever had!

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  3. Anonymous says:

    Like teenager that just got a few bucks in their pocket. Spend, spend, spend. What about servicing the debt that you idiots previously ran up? Waiting to do that when economy is down?

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  4. Anonymous says:

    halmark of communism…govt and ponchious pilot rotten rich…we the people go rotten poor???

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  5. Anonymous says:

    With all this money you’d think they would fix infrastructure, schools, the dump, hire people who only clean public parks and beaches etc etc. but alas, nope. They will spend money fighting equal rights while the children learn less and less. Wake up Cayman! They are playing you! They don’t care about same sex marriage, they want us fighting amongst ourselves while they gut public school spending and bring in the dredgers for the dock no one wants.

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    • Anonymous says:

      Such politicised drivel @ 1:12pm .

      Go do some painting nah!

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    • Anonymous says:

      transportation!! they don’t even know how to fix it. The entire world knows: Bus system. Excellent bus system in Bermuda. But here, they need ideas, more planning, etc.

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      • Anonymous says:

        Why can they not just duplicate the excellent bus system in Bermuda?

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        • Kman says:

          No they won’t as it’s best to pay a consulting firm a waste of $1 million then don’t put the bid to tenders but have a friend provide rickety buses that breakdown every month. This is the practicality of our lovely band aid solutions, abuse of tax payers money and incompetent politicians.

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