Parliament rubber stamps UPM’s $51.8M extra spending
(CNS): Parliament has given the OK for the government to add $51.8 million in extra spending to this year’s budget. On Friday, Finance Committee went through the long list of new expenditures, including $35.4 million in operating expenses and $16.4 million in capital expenditures.
Core Government is now expecting to collect $1.098 billion in revenue, which is $3 million more than originally budgeted. Core expenses are now forecast at $1.081 billion, which is $31 million more than the $1.05 billion original budget for this year. This has cut the anticipated surplus from $44.5 million to just $16.5 million.
Government is forecasted to borrow $27 million this year, though Financial Secretary Kenneth Jefferson said that might not be needed. However, the government will need to use the money it is borrowing in 2025 as planned, given the anticipated capital spending for 2025.
During the Finance Committee hearing, Premier Juliana O’Connor-Connolly, who chairs the committee in her role as minister of finance, said the additional appropriations would not place Cayman in jeopardy of breaching its own financial rules. She said the country would maintain compliance with all six of the Principles of Responsible Financial Management as at 31 December with the Cash Reserves Days estimated at 96.94 days.
The biggest appropriation for the extra spending for this year was, as expected, $13.2 million for the provision of tertiary healthcare for indigents, seamen and veterans who are referred for treatment overseas or local private hospitals. Another $3.2 million was appropriated for primary healthcare for those in need.
An additional $$4.6 million was also voted for the social development ministry to fund assistance payments for temporary and long-term indigents. Policy changes to the provision of accommodation, food and utilities as well as new services for rental deposits, internet, transportation and food have increased the overall social welfare tab for this year so recipients could meet their basic needs, as well as to reduce barriers for those who are able to work.
That ministry was also given an additional $2.2 million for payments to recipients of Seafarers and Veterans Ex-Gratia Benefits due to the fluctuating numbers of seafarers and veterans accessing this grant and additional funds provided to prepare for the arrival of Hurricane Beryl.
Government also voted another $4.4 million for the ministry responsible for infrastructure to look at the controversial proposal for the public purse to fund a third submarine cable. In July, Minister Jay Ebanks said that a private sector company had offered to build it and Cabinet was exploring that option.
However, after originally budgetting just $1.5 million for this project, the ministry is now set to spend almost $6 million on finding a private sector partner to work on the cable, according to the project manager, Ranulf Scarbrough, who said the money is to initiate the process but did not mention the previous offer.
MPs voted an additional $4 million for the roads budget, which was said to be for the cost of the environmental impact assessment for the East-West Arterial. National Roads Authority Director Edward Howard said the EIA was nearing completion and the environmental statement was being written.
The EIA will include the additional research by the scientists after government selected a route, which will have significant implications for the Central Mangrove Wetlands. It is scheduled to go through public consultation in January.
An additional $3.5 million was requested by and granted to the sustainability ministry to cover costs incurred this year in relation to the anticipation that the Integrated Solid Waste Management System (ISWMS) project would proceed. That money was originally expected to be part of the overall costs to government, so had not ben budgetted for this year.
Given the cancellation of the project, in which the CIG was partnering with Dart, the money had to be found in this budget. The minister did not offer any updates relating to this critical project or how the government plans to deal with the growing landfill problem, especially now that a significant part of the George town dump has been capped and remediated to Dart’s benefit.
This has left the Department of Environmental Health with a significantly reduced space to continue landfilling while having no plan in the works to deal with the growing amount of rubbish being produced.
See the Finance Committee proceedings on CIGTV and the supplementary appropriations bill below:
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Category: Government Finance, Politics
This is evidence that the entire system is corrupt.
So essentially we vote for who can spend our money without consulting us?
Does anyone else see this?
I recall an old phrase, often relating to government: too many piglets and not enough teats.
basic principles of economic prudence would go against this.
our mla’s don’t care.
And they never have as their actions speak volumes.
Why do we never hear of expense cutting? We have an incredible number of government vehicles handed out to employees and luxury cars and SUV’s for heads more for personal use with free gas, maintenance and insurance and the number is rising.
Crane agrees, still hurting for justice!
Our professional and amateur stakeholders should be deeply concerned and vocal about another Icarus Cabinet continuing to underreport known liabilities by a factor of 10x. Cayman’s undeclared debt load is at least well over 200% of GDP. The latter, a sliding figure reliant upon a good reputation for financial integrity, governance, and law.
Name one CIG project that has come in on time and on budget…
trick question!
The original A frame airport actually.
Designed by Cayman based Architects and built on time and on budget by local contractor.
The legislative project / drafting of an MLA’s severance pay.
“She said the country would maintain compliance with all six of the Principles of Responsible Financial Management”, and yet the entire civil service has never received a favourable review from the OAG, and Ken Jefferson is admitting to hiding >$2Bln in liabilities.
Nice photo CNS, it appears you’ve captured the exact moment that Juju’s has Kenneth by the short and curlies!
How the eff can the numbers of seamen and veterans accessing the grant of ex gratia benefits be fluctuating and therefore requiring MORE money? The numbers should be gradually and steadily going DOWN as the years go by because no Caymanians have gone to sea for many many years and where on earth would Veterans come from so long after the wars that gave rise to these benefits. Something is wrong, something devious and underhand is going on.
Seaman Risk their lives so why shouldn’t they live good and get as much as they can to live comfortably here everyone else is some people only look out for themselves so what they do the rich get richer and you just want the poor to get poorer 🥲🥲🥲
2:32 that has nothing to do with the point the poster @ 8:08 was making, which is that the number of seamen and veterans should be steadily going down as time goes by, not increasing.
The minimum age for membership payout is 55. You must have sailed prior to 1985, and/or have application approved by one of the 9 CISA Council members. There are no pubic reports, or membership lists to verify what happens to this money, and where, and who it goes. No public financials. There is so much extra money swirling around that they sometimes have too much, and donate 6 figure checks to HSA, Crisis Center, etc.
So my earlier comment “something is wrong, something devious and underhand is going on” is correct 2:33. Thank you for the information.
And now another episode of Pigs In Space !
The in today’s episode the Starship Swine Trek is hurtling toward a debt laden future!
Whilst Pigs in Space was great entertainment for the kids , I can’t help but find something strangely familiar when reading about CIG’s latest reports , their efficiency is comparable to the competence of Captain Link HogThrob , their temperament as Volatile as Miss Piggy’s and their explanations as clear as the discourse of Doctor StrangePork !
https://youtu.be/60q2ltGUbBk?feature=shared
And of course they simply can’t resist the call of Swill Stroganoff (the public purse) which judging by their ever expanding waistline !
Keeping kicking problems into the tall grass on the other hand has been this cabinet’s star achievement.
On the other hand though Every MP at the through has their pet projects fully funded upfront by CIG while the dump issue , infrastructure and telecommunications issues, not to mention the ever increasing difficulties to insure property on the island are left unaddressed !
Meanwhile civil servants are getting bought off by the seating Ship of Fools whilst the issue of financing their very pensions is kept kicked into the tall grass with no end in sight!
We are effectively rudderless and have been for quite a while now and only a strong handful of people can guide the ship as to avoid its wrecking if ever the tide pulls back! I would expect a hard landing has to be prepared for !
When the beach is gone and the tourism revenue dried up, might I suggest abortion and assisted suicide to take it’s place? There’s a big market out there for both just waiting to be tapped.
They make a nice-looking couple. I hope they will be happy with the framework which they have created.
It is never a simple “rubber stamping” there are hard fought negotiations behind the scenes where all the members have their snouts in the trough.
Deciding how our money is misspent and diverted to the politicians is a tough game.
Our ministers spend our money like drunken sailors and will continue to do so as long as they know that once they are elected, it’s for life.
Young Caymanians should be watching this; in the end, it will be YOUR money they are wasting. Every project CIG introduces goes millions and millions of dollars over budget. Look at the Airport, John Gray High School, the Turtle Farm, the Mental Health Facility, and on and on and on. Each and everyone goes way, way over budget, and the government keeps adding your money to the pot.
The UK and USA are bankrupt and print fake money to survive. Is this want you want for the country you will inherit one day?
We don’t have the option of printing face money.
Please note that the intelligent and educated Caymanians within the civil servive who genuinely love our Islands and worry for the future of our children are horrifed by what we are being forced to comply with regarding the policy mandates and spending incurred by the current elected “leaders”. Unfortunately, our bosses and the orders we have to follow are determined by the people’s votes. I hope and pray that we both choose more wisely and have better choices next year.
Ah yes. Heard that at Nuremberg. You could just refuse orders. (The ones that are unlawful- and if they cause harm to Cayman – they usually are).
Offensive and ignorant comparison of civil servants in a ( supposedly) politically neutral civil service whose stated responsibility is to implement government policy, with defendants at Nuremberg accused of crimes against humanity involving, inter alia, torturing and murdering millions of people, crimes which were committed with gusto, enthusiasm and great, though diabolical, efficiency.
You miss the point. And civil servants first duty is to implement, apply and follow the law, equally and fairly. The law includes important constitutional protections designed and intended to prevent the atrocities you reference. In fact, they were literally born out of them. By saying a civil servants first duty is to apply policy you open the door to a repetition of the horrors. Blindly following instructions is an issue. A very big one. The guardians of our basic freedoms are a strong and independent civil service. Not lackeys (in brown shirts or otherwise).
Morons in charge!! We’re screwed!
Unless we can get a complete slate of capable new leaders next election.
Do you really think there will be an election next year? The rate these buffoons are going, we will be bankrupt and the whole island handed over to the UK for better governance.
We have $1billion organization being managed by uneducated, inexperienced clowns who largely are unemployable in the real world. It is truly unbelievable.
Don’t forget that some of these clowns are felons too.
Meanwhile, for several election cycles, Ken Jefferson has been concealing >KYD$2,000,000,000.00 in Civil Service Liabilities from the CIG Balance Sheet, in order to falsely pretend that the CIG remains in compliance with FFR. The OAG has been unable to ascribe a positive opinion on the accounting for the entire Civil Service. When these accounting lies blow up, and they will – in the worldwide news – all of Cayman will suffer. It might even spell the end of the Financial Services Pillar in this jurisdiction. Nobody should be surprised.
Only total and complete OPEN GOVERNMENT will expose this information to the world and to Caymanians.
All living on these islands should demand full Open Government in the Sunshine — sooner rather than later.
what, do you want to get sunburned!!!!!
I’m sure the FATF and FCO are well aware of this growing lump under the rug. However makes one wonder how CIG can secure any size loan with this growing liability? Someone is paying out the rope so CIG can hang itself with it.
The world thirsts for the headline we’re going to provide them. It’ll be the end of a short period of hard-fought credibility in the Financial Sector, blown by the crooks in charge. Anyone who can’t leave will be left holding the bag.
FFR compliance is critical to retaining the UK backstop and by extension, their credit rating. We can’t service existing debt without it, and not without stable fee revenue. A serious problem after the Financial Sector redomiciles.
Cayman, do not, do not, do NOT go down the pathway of debt. You may think it’s no big deal at this point. That’s exactly what the U.S., most of Europe, and Japan thought years ago — but just look where they are now. They’re so deep in debt that there’s no way out. Eventually, an economic collapse will be unavoidable. Cayman, you are smarter than this. AVOID DEBT, and start avoiding it NOW.
Agree with you however, don’t worry the big man on the North side of 7MB is standing by waiting to own us.
Waiting?
He already does and has done for quite some time Bobo.
The picture says it all – Ju-Ju just says; (give me more money so we can piss it away”. The financial secretary says; “can I get a raise?” And the beat goes on!
“George town dump has been capped and remediated to Dart’s benefit.”
Maybe a little cynical perhaps? I think almost everyone prefers this capped versus a 200 foot high mound of stinky compacted exposed trash.
Doesn’t take a rocket scientist to work out that the capping and remediation was primarily to the benefit of Dart and a giant boon to his little city building project in Camana Bay
They claimed it was an eyesore for tourists but the side facing Camana Bay is capped and the side facing the GT and the port is still being used to dump trash and is unchanged the trash there is still exposed
The PPM gave up a huge amount of leverage by agreeing to let them cap the dump prior to agreeing a comprehensive deal.
That is OUR money they are p33-ing away – Not “Governments money”…OUR money – belonging to and paid for by, the residents of these islands and the International Financial Services sector & clients through their fees, primariarly.
Drunken sailors with a credit card.
“Spending freely what came easily, realised nothing”.
When it’s gone, its never coming back….
Yes but only The Premier gets directions from Heaven on how to spend it!
And pension for life!
My beloved Caymanians. Please vote smart in 2025 and elect 19 real leaders. Your children’s future depends on it .
It may be almost too late. We are teetering at the tipping point. The largesse is committing us to future liabilities in pensions and healthcare that we stand no prospect of affording without very significant changes to our social and economic structures. The unadulterated vote buying and awarding of inflated capital works projects is already crossing the margins of affordability in times of economic growth. The obligations to pay for them will continue through periods of contraction. The money is simply not there. Our fate is being sealed.
Those who vote for Mac Kenneth Seymour Saunders and Jay can hardly read and write, and certainly don’t understand the difference between right and wrong.
Tragically we are stuck with both sets of ignorant voters and dangerously self serving candidates.
Elect 19 real leaders…. can you even point out 5 real leaders running for office? that’s been Cayman problem. nobody with a strong moral compass and intellect wants to roll around in the mud with corrupt idiots when they can get the same pay from a reputable corporation or build their own company.
In 2025, will it be the same old, same old that are elected? Can a few current MP’s or the ring leader here be replaced with some new blood? Try it! Just to see what happens, what possible good may come. Or will it end up eventually the same old, same old? 🎭
“Under democracy one party always devotes its chief energies to trying to prove that the other party is unfit to rule—and both commonly succeed, and are right.” – H. L. Mencken
Madness. Pure madness.