Middle-out to replace trickle-down policies
(CNS): Premier Wayne Panton said the PACT Government’s first budget reflects the change people voted for, as he outlined a policy switch from trickle-down economics to middle-out economics and commitment to halt the ongoing demise of the Caymanian middle class. In his first Budget Policy Statement to Parliament on Friday, Panton spoke about the increasing inequality in Cayman, with too many people in crisis in what is seen as a prosperous jurisdiction.
The premier said the pandemic had exposed “staggering levels of need” here but his government was committed to addressing it. The Cayman dream was now unattainable for many people, he said, adding that wealth disparity was a “socially corrosive” issue and income inequality was no way to build a strong country.
Panton said his government would implement policies, supported by the budget that will be be laid out by the finance minister, to protect the middle class. He spoke of switching from the policies of trickle-down to middle-out, as the growing inequality was “an existential threat” that would not be reduced by economic growth but by an economy designed to address it.
Panton said that PACT would be following the United Nations Sustainable Development Goals to create a more equal society. And iIn a long speech, lasting more than two hours, about the general direction for PACT, Panton outlined some progressive policies.
These included greater investment in education, the working poor, affordable homes, family support as well as better maternity and paternity leave, expansion of healthcare, a bigger role for CINICO in changes to health insurance provision, reversing environmental under-funding and a robust effort to actually do something to reach the national energy goals.
He also spoke about introducing greater transparency surrounding the work permit and permanent residency systems, as well as concessions, waivers and exemptions given to developers and under the local companies and control law.
Panton explained where government intends to spend some of the CI$1 billion in expected revenue over the next year, going through each ministry. But he stuck to the main theme throughout his speech of addressing the inequality the country was experiencing.
He warned that the window of opportunity was closing for Caymanians but this new government was standing ready to change it. “We have a responsibility to ensure the quality of life for this and future generations of Caymanians,” he said, as he concluded the speech and stressed the need to act in the interests of all people.
Check back to CNS later for the full address, more policy details and the budget, which is expected to be delivered this afternoon.
Read the premier’s full Budget Policy Statement in the CNS Library.
See the full Budget Policy Statement on CIGTV below:
- Fascinated
- Happy
- Sad
- Angry
- Bored
- Afraid
All hot air from the Clown Car exhaust aside, there is an acid test for whether or not Panton is serious about his support for the “middle out” economic model. The test is this: Is he prepared to move toward abandoning the pathetic surrent minimum wage and move toward establishing a Living Wage as the new standard for a minimum wage? Panton cannot escape the hard reality that the current $6/hour and $4.50/hour minimum wage came into effect on 1 March 2016 and inflation has eaten away at it and made this a pathetically paltry sum indeed. Panton cannot escape the hard reality that the current minimum wage is poverty-level income. Yet there was no outline for a living wage or mention for what the current minimum wage would be increased to in his “middle-out” plan. And there you have it. The ball is in your court Wayne give us something more than political Clown Car exhaust (hot air) to ponder.
The idiot parade of the cayman islands. All about the next cliche, zero thought or competency
Middle out economics. Whats next? Gender pronouns on our driver licenses? What a clown. You voted woke, you got woke.
More like we voted brain dead.
I dont know whats Middle Out and I dont care.
Give me a minimum Annual Liveable Wage to pay my bills; and a fair chance atbjobs in private swctor AND the Government.
Never mind..I may as well ask Santa for a rethread.
Still waiting for him and his clowns to pass the What ever happened to the campaign promise for accountability? The Parliamentarian Code of Conduct has still not been finalized and with a certain member of parliament who is rumored to have gotten himself in hot water once again it is no wonder.
He said left ppm quits because of Bush and then agrees to have him to form a government which Bush is now basically steering.
Should voters believe what he is rambling on about? He won’t allow himself to be questioned by independent media rather opting to sit down with the likes of a disgraced cyberbully gossip so he attempt to control the narrative.
Regarding Caymanian Protection Board.
You are bat #%^$ crazy.
Wow. Impressively bonkers.
Seriously, good job.
Absolute nutty talk. If we are not open, we are D E A D
The government should close the border and get rid of covid within the Islands. Reopen when the rest of the world also rid itself of covid. Falong to take heed will result in many unwanted sorrows
Reopen when th rest of the world has rid itself of COVID? When it’s like the flu? Going to be with us forever.
Bring back a modernized Caymanian Protection Law (with a modernized Caymanian Protection Board), which is infused into every commercial business and profession, as well as Caymanian consumer protection legislation.
Everyone does better when the efforts are put on education, training, internships, and diversity of experience and opinion. If policies focus on restrictions then you essentially are imposing a lower standard whic ultimately removes opportunity.
There are issues of abuse which indicate a problem with enforcement, not with the law itself. Perhaps those handling the enforcement are a result f restrictive policies rather than putting effective personnel with experience, education, and the perspective and backbone required to be effective.
Cayman has very capable Caymanians, who extremely high-level performers, that can do the jobs of many non-Caymanians.
That does not mean that Cayman does need the benefit of foreigners in the workforce. Just that there is not the same need for economic growth, which Cayman did need previously for economic growth.
If Caymanians are not given the opportunity to grow, because job and business opportunities are intercepted, there is a stifling of Caymanian growth, which need not occur.
No. The lack of enforcement is due to corruption. It is widespread.
To be honest, these are more like two peas in a pod.
You have to be really stupid to expect one to happen without the other.
I am being saying the same for a long time!
You must be visiting from another planet.
We have to have some interaction with the outside world, otherwise we starve. Then from that basic level there has to be some travel etc.
Guess what this will get in so needs to be managed. We’ve already run that experiment and it got in.
We can argue about the details of the best way to manage Covid-19 but hermetically sealing up the Cayman Islands is not an option. It is even less of an option for countries that aren’t at the end of the global supply chain for physical goods.
He was a fraction right in saying we should be closed.
Opening in winter when the US and the World is entering FLU season is not intelligent.
Opening in easter/summer is much smarter
Allowing 400+ people to come to Cayman to work under the guise of “working from home Global Citizens” for a fraction the work permit fee for professionals is another loop hole for more permanent residents that will drive up housing cost take high paying jobs! SMH.
They can start by closing that nonsense down now.
Was this not limited to 2 years max?
Limited to 2 years max? Supposedly, but we know what works.
They were trying to save the economy but no Civil servants seems to want that anymore. I hope they see what’s coming and change their minds.
More importantly, what happens if Global Citizens form relationships locally and then come back to work for a local business, is that not robbing the local market (Caymanians and permanent residents) of employment and business opportunities?
Those jobs are not available to the local workforce.
That nonsense completely bailed this Country out during COVID. Do you have any idea how much stamp duty the government took in from property purchases from these people alone during COVID. The utter blindness of some of the folks commenting here is staggering. Stupid is as stupid does.
A picture is worth a thousand bucks. Sometimes more
Look in the background every politician on their phone. That really says it all. In my work you’re fired for being on your phone in parliament it’s an entitlement. Show me any other country where this is acceptable. I know it sounds petty but these things are what the problem is from the core
Pretty sure those are a couple of our Top World Class Civil Servants and we know they don’t really listen to Wayne anyway.
Top class overpaid ones as well!
They are texting with the almighty lord who is guiding them on their next move.
I don’t think either of those people are politicians..Looks like the deputy Governor, attorney General and Financial Secretary..
Not one person, except the media, could tell you anything about that long speech. Everyone bored and on their phone like the world is going to stop without their presence in multiple places! This is killing us!
Those are not politicians and they are working on their phones geezuz
Shows how much you pay attention. Those are too civil servants not politicians.
They should understand they are not God nor should they want to or try to be God. It is time for this show to end.
What a photo! Three senior “leaders” of the country! Looks like what one would imagine in an experiment at the “Think Tank” exhibit at the SNZ! “iPhones everyone!”
Wayne… looks like they’re out to shame you!
Three massively overpaid senior leaders as well. They really set a great example for everyone else!
All well and good Premier Panton, you hit all the right buttons (for now). So, please let’s see some actions in keeping with the promises!!
Deliver!!
As with any society, there are people that won’t work. Cayman no different. Taking from the rich and give the poor doesn’t make the poor richer, it makes the rich go somewhere else. Baby sitting the lazy to justify a vote. Grow some balls PACT
I don’t see anywhere in the above article where it explains that the honorable Premier had stated that he intends to take money from the rich to give to the poor?? As such, your whole comment is irrelevant and plain RUDE to be honest.
Also not sure if you are aware, but many good people who a Extremely rich, don’t have a problem giving to the less fortunate. That’s the kind of rich person you should aspire to be ;). Just sayin..
Exactly!
Clearly isn’t rich….most rich people do not comment stupidity on CNS. Just saying.
Some very fine ambitions Wayne has there. Given Cayman’s track record of implementing any new ways of doing things (except building new roads), I would be surprised if even 1 of these projects was actually implemented in the next 10 years. I think this speech will sit on a shelf, gathering dust, no one ever reading it again until the earth is hit by a meteor and the world ceases to exist.
I was under the impression the deputy premier was going to provide some relief to the seniors of this country. This was part of his manifesto but all I’m hearing now is crickets……what are the plans for the seniors?
A voter for Bodden Town would like to know before the next elections.
Just vote for me then you will see – No plan.
‘Impressions’ only
7:55 pm,yea they gave themselves 2 to 3 thousand ollarsc raise per month on top of their already extra big wages and gave some of the old pensioners 15 $ p m raise and seamen ,???? Shame shame voters remember in 2025
It would be helpful if Wayne or Chris provided specifics or pointed to a country that has successfully adopted the ‘middle out’ policies he wants to try. In the absence of specifics or informative examples that speech is more hot air going into the environment
You do realise this was the introductory remarks to the entire budget debate process right? How do you really expect to pack the details you expect in to ONE day?!
Come on man.
Good question 5:43, but one thing we certainly do know and that is that trickle down does NOT work as evidenced in the US and here in Cayman. It is simply a catch phrase that the rich right wing uses to try to pull the wool over the eyes of everybody else and to justify all these tax cuts for the wealthy and for big corporations that the likes of Trump and his Retrumplicans are fond of. Mind you, middle out may just be as useless……..
Trickle down would work very well for Caymanians if only our immigration authorities did their jobs. Our problem is we let the Billionaires come, and then rather than strongly suggesting their captain, boat hand, mechanic, chef, cleaner, nurse, landscaper, fuel supplier and accountant be Caymanian, we tell them to bring whoever they want at whatever derisory remuneration they can get them for.
There are not enough boat captains, boat hands, mechanics, chef’s, cleaners, nurses, landscapers, fuel suppliers and accountants who are Caymanian. There are not enough for 1 billionaire to function let alone 2. There aren’t even enough for the multimillionaires .. There aren’t even enough cleaners and landscapers for the Caymanians. How can there be so many people here who are so incredibly dumb to this obvious truth. To believe the commentators here we should all stay home and go back to making rope and turtling because that was so great!
You are greatly mistaken. Significant numbers of Caymanians have stood ready to ably fulfill roles which have been denied to them. All assisted by corrupt boards and ignorant or corrupt (or ignorant and corrupt) civil servants.
So why are. One of them applying for the 3 jobs I have advertised for deck hands?
Been looking for 3 months.
If this were possible, it would happen. I’m an immigrant boat mechanic. Every permit I’ve had my job has been honestly advertised, and my employer would happily employ a Caymanian.
However, in 6 years, not 1 other person has applied for the job.
Don’t ban other nations from working here, forcing local companies to employ people who are not capable of the job. Instead, improve education, particularly trade schools, so there are more locals able to do the job.
I’d happily take on an apprentice, but nobody wants to work on boats.
Cayman is suffering from economic discrimination as the people who are on the top only want the cheap lower class to service their high lifestyle and then get out of their way as they could care less about the bottom class people as long as they do not interfere into the space and confines of the upper class, but anyone who would read history will know that this is a future that is doomed to disaster and collapse. Our social landscape is showing the signs of this divide now with more to come unless changes are made. The problem is will money still keep the politicians from making the necessary changes. From the looks of these comments I do not think so.
5:45 you were doing alright, wavered a bit and then ended with a crash. Remove the hatred and try again, I’m sure you’ll find more favor.
No Country has. We need to stop trying to be the Country jealous outsiders want us to be, and start being happy with the Country we are. The majority of voters are not learned enough to see the long term consequences of making decisions that scare business away. Far better for government to focus on running a surplus, attracting more growth and then spending that surplus on its people like the Dubai model than trying to dictate or legislate prosperity from a shrinking pie.
I actually think we can so both.
CIG can encourage businesses who show a desire to promote and grow Caymanian and penalize those who do not.
Then take profits from penalties and permits to strethen education in various business sectors.
Middle out is a Obama/Biden approach based on a phrase concept coined during the Clinton years. The jury is still out on if it works.
But the real problem in Cayman is too much revenue allowing too much gov’t and leakage of economic rents to politicians and connected parties. That is #Leggewasright type stuff.
We have large swath is gov’t that are actually wealth destructive as they pull resources out of the system while actively making it more difficult than it needs to be for the private sector to create the income that feed the beast that is CIG.
This place is not well run and anyone who thinks it is either works for Goc’t or has too many friends and relatives in places where they can be helped along the way.
“If today we can find Caymanians running some of the largest firms on the Island, or conducting brilliant work as we see in our civil service every day, then we certainly can find a Caymanian capable of bartending or working at the front desk.”
SMH.
This is like saying “if we can find a Caymanian to drink this 2003 Chateau Lafite Rothschild, we can certainly find a Caymanian to drink this cup of warm horse pi55!”
Hospitality jobs are low paid, exhausting, and generally incompatible with family life. What’s the upside of more Caymanians having jobs like that?
He didn’t want to work in tourism! Has any member of the government? Why should anyone else then?!
Thankless job, for the most part. I could have done it when I was much, much younger, but not any more. If things degrade, I guess me and mine will have to live off the land and sea, assuming that will still be legal.
Also can you please show me the “brilliant work” going on in the Civil Service.
We have one of the most inefficient and least effective Civil Service in the World.
One needs to remember that Cayman is not a country. There is not the same level of government required as in a large country, either in terms of population or geography.
We have close to 10% of the population working in or for Gov’t. They still can’t/won’t answer the phones.
Do not forget to add that they are all well paid and cushy benefit loaded civil servants as well!
8:18 am they dont need to do better because they are told that all working hard,doing a good job, world class civil servants and giving them pay raises and bonuses.Thats the problem/problems
Exactly right. We need easy permits to attract the dreamers and do the Work no one wants to do, that lifts the bottom up. Cayman already has effectively less than 5% truly unemployed. You don’t grow a pie by making it hard on business and scapegoating the low wage workers from the third world. Smart leaders understand that. Sure wish we could find some.
so Cayman does not want the foreigners coming here, taking their jobs…that they do not want to do themselves?
Spend it while you can CIG.
An unbridled CIMA is doing everting (and more) to chop down the Financial Services Industry’s magic money tree, the fruits of which you politicians fritter away…..
“Spending freely, what came easily, realised nothing”.
Inequality is a huge red herring. The real problem is poverty.
You can reduce inequality all you want by scaring away and taxing wealthy people (aka investors) but it won’t make any difference at all to the living standards of poorer Caymanians.
The country’s entire business model depends on attracting wealthy investors and professionals. Might be better not to blow up that business model before you have articulated a viable new one Wayne.
4:41 – not sure how you managed to jump to that conclusion, inequality has been shown to correlate directly to poverty.
https://www.epi.org/blog/inequality-main-persistent-poverty/
Taxation, – In the US with Biden’s policy of implementing more tax it will impact the wealthy yes, but we don’t have income tax. If you’re talking about taxing the wealthy maybe on stamp duty, residential property etc, sure why not. It is after all the developers getting all of the concessions and the middle nothing, – to say that the country’s entire business model is dependent on attracting the wealthy is a simple affirmation of cause by people like Dart.
Maybe just maybe, make work permits in the real economy as expensive as they are for financial services.
Also why don’t we ask questions like why are Pastors free? Surely we could educate enough of own people to fill this role…
Take a look at the detailed fees sometime. You might see a pattern:
http://www.immigration.gov.ky/portal/page/portal/immhome/help/fees/Immigration%20Regulations%20(2013%20Revision).pdf
Fees are minimal for low-end jobs. So that makes it easier to import low wage workers and have complete control over them as they can’t change jobs if the employer is treating them unfairly etc.
We have very little in the way of part time work for teenagers here. The cheap permits make it easier to bring in a fast food worker to handle nights and weekend shifts as opposed to managing teenagers like what happens in the many other countries. Young people can earn a bit of money and more importantly learn a lot from this sort of thing.
the “pattern” is that work permit fees are roughly commensurate with salary. Well spotted, Sherlock.
For as long as I can remember, every politician once elected successfully extended their own middle, but nothing ever trickled their middle to the poor.
Judging from the picture we should have a phone government
This bunch having control of a billion dollars is scary.
How many zeroes are in a billion? Hands fly up, me teacher, me, me, me! Why you always let him answer!
PACT can do whatever they think is important. They voted themselves a raise as their first act which proves the point.
I sure hope that everyone understands this. Don’t be fooled.
We should consider a cell phone ban in the LA. At least do the job you are been paid to do, please, put down the phones!
Better late than never on the research. 😀
Using a laptop or maybe a table looks much more professional.
Do they know you can get WhatsApp on something other than their phone?
But then how will they know which numbers came up?
Hey buster, those people have taken time from all the very important work they always do to attend these meetings, you want everything don’t you? Maybe offer some more financial benefits to them and they may be more attentive!
Wonderful statements. Good thing they have never lied to us. Oh, wait…..
Mr Premier I’m really hoping you come up with a fire cracker here, if not -, no I’m not going to allow my mind to go there
Am I mistaken in saying the three in the background seem quite preoccupied. Nice promises again Mr. Premier, let’s see if you have kept them when voting time comes around again.
My feeling is that the majority voted for positive change, solid not ambiguous pro environmental and sustainable development with far more transparency than was evident under the previous leadership.
Small positive changes have emerged, possibly by happenstance however important issues still remain opaque and it seems the diabolical vestiges of the old administration still control some of the reigns.
One other worrisome issue is the number of high ranking expatriates leaving for seemingly personal reasons. I know many Caymanians believe these posts need be filled by their own. I agree, however there was never an adequate succession plan in place nor one to educate, train and prepare Caymanians to fill these posts.
Cayman sorely needs planning and preparation in this area as it has been neglected just like solid waste because of CIG’s addiction to raking in work permit fees over self sustainability.
Your comment about ranking expats leaving for personal reasons is telling. Whilst everyone wishes those posts would be filled by Caymanians , when the expats abandon the golden ticket , but haven’t been forced to leave bt Caymanian recruitment policies, you have to ask why. Is it they have been told to get gone to free up the space, or is it they have losses faith and confidence in the direction of travel. I think it’s the latter – especially with Dr Lee. If that’s true it tells us a lot of uncomfortable truths.
Dr. Lee is well aware he is past his Sell By Date.
Would you want to be around when compensation related to Dr. Express is determined or some of the other stuff starts to come out.
Sometime the Emperor really has no clothes.
These type of policies are the reasons so many voted for PACT. Here’s hoping it plays out well and as intended.
No one is listening. All 3 on the photo are busy with their smartphones.
And three of those in the background directly contributed to the destruction of Cayman’s middle class.
At least one seemed to give keys to Eric and then let him drive without regard to road markings, clear signs, and obvious hazards. Another appears ambivalent to enforcing any rules, or even establishing what the rules are.
I think they all heard the words, but never looked up to understand them. Hell, they all get paid whatever happens.
Don’t count those 3 – they are meaningless to everyday life
If only. The sad reality is they do untold and mounting damage every day. They think government finances and the rule of law have no boundaries and are concepts they can continually adjust to suit their whim, and that of their political masters.
The only people who should be upset about this are the ultra-wealthy and even they should be happy as a better off poor and middle class means more social harmony and less crime.
If they truly switch to a middle out approach it would be a massive shock to the system here.
So expect lip-service and half-baked rhetoric rather than anything real.
The people who should be unhappy are the working class business that cause our economy to function. Look at all the tall buildings on the horizon downtown. Half filed with government tenants of one variety or another. Without the other half – the small business owner and foreign investors paying law firms and accounts cites we would have nothing. Scare these folks away with middle-out policies to this Country’s peril.
If he’s serious then he will make it easier to revoke work permits/PR and status which then helps actual Caymanians. Rather than creating more Caymanians that don’t care about real Caymanians.
Rather than revoking, how about they simply apply the existing law? If anyone actually bothered, many of the permissions you clamor to revoke, would not have been granted in the first place!
Well if PACT is even half as good with the economy as they have been with the re-opening “plan” and the management of Community Spread we should be in great shape.
Oh wait…
I think you are referring to the last government’s management of the community spread, And, another thing, if I had to sit there and listen over 2 hours to all that drivel,heck I would have taking in my knitting and worked on a new sweater for these chilly nights we are having!
Let’s hear all the comments about entitled Caymanians. What people don’t realize is that crime will increase as inequality grows. Crime is bad for both Caymanians and expats.
Given that we can’t seem to enforce laws, or gather enough evidence to convict criminals here, one could argue that crime is good for those committing it!
Street level crime is the least of our issues. The big players never get caught or punished.
…they get elected and become a minister…?
Talk is cheap.
Not according to the extortionate rates digicel and flow charge!
Says the person who never had to hire a lawyer.
Go wayne go…you guys doing good job…no country can survive without a middle class….other caribbean nations are example…
Honourable Premier, please do something about the high cost of health insurance for seniors. We should be able to have something more than just the basic plan (CHIC), but not at the exorbitant premiums being demanded by the insurance companies.
Agreed. This is the biggest crisis I see in Cayman, but perhaps because I now find myself in this position.
Now retired, all I can manage (and even then not easily afford) is the SHIC plan which basically covers nothing. If I get ill the plan doesn’t cover the costs of diagnosing what’s wrong with me, and without this I will never get the right treatment.
The SHIC is a disgrace and no one should have to rely on a policy like that at our age, just when we need it the most.
After years of working very very hard in jobs that paid barely above minimum wage, my pension pot is now expected to last me 3 years, paying out a little over $1000 a month. Retirement should be something we look forward to but all I see are very bleak days ahead.
Exactly. People can no longer say enjoy your retirement. Should be offered more jobs too if somebody wants and is capable, part time or otherwise. It is now a norm for people in USA, UK and other countries for people working into their 70s and beyond – unlike the past 60+ is still young.
No one offers part time jobs. Not even HSA that really need help with manning phones etc. Plenty of seniors who could help but who do not want full time & shift work.
26 @ 3:25pm – Yes, also home insurance! I had to stop insuring my home after I retired and paid it off. Can’t afford $6000 a year out of my savings.
Meanwhile….insurance companies here are making a bigger rake than banks!!!
Exactly! My private sector pension runs out next year and as it is now I pay almost half of the pension to CINICO. Guess I will be moving to my Representative front porch. I should have worked for C.I. GOvernmemt instead.
👍😃
Love the photo – Wayne reads from a script while everyone in the background is looking at news of the Omicron variant rapidly spreading around the world while PACT blathers on.
Don’t be silly – finding out what’s for dinner!
Candy Crush.
Allowing millionaire business owners to withhold 5% of labour compensation does not help anyone in the middle. It helps select the wealthy entrenched barons living in the 1% Neverland.