UK won’t step in yet over potential FFR breach
(CNS): The results presented in the Pre-Election Economic and Financial Update for this year and next are projections only, and at this stage, the UK government will not intervene in local public finances. Responding to CNS’s request for comment on the newly forecast deficits, Greg Gibson, who heads the governor’s office, said that if there is a breach, the Cayman Islands Government will need to present a plan to remedy it within three years.
The current projection for this year represents a negative turnaround for the public purse of a whopping CI$80 million. However, the only pending breach of the Public Management and Finance Act is the core government deficit of CI$26.2 million by year end, which the new administration will need to turn into a surplus before it publishes its Strategic Policy Statement in July.
Gibson said that the projections are not the actual spending trajectory for the year, and measures and decisions made by a future government could mitigate the projected deficits.
“UK intervention in the budgeting and planning of the Cayman Islands Government’s finances would only be triggered in the event of an actual breach of the Framework for Fiscal Responsibility (FFR), or if there is clear and firm evidence which would indicate an imminent breach. Such evidence would typically be provided through the Strategic Policy Statement (SPS), which is expected to be presented to the Parliament by the end of July 2025 for the 3-year horizon covering Financial Years 2026-2028, inclusive,” he said.
However, in the event of a breach of the FFR, the CIG would have to present a plan to the Foreign, Commonwealth and Development Office to remedy it within three years, he said.
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Category: Government Finance, Politics
I have no idea why the UK even allows self government for Cayman. The government should be disbanded and a council put in its place that reports directly to the UK. Look at how they mismanage everything. It’s a shambles
I think this Viewpoint ties in nicely with this discussion.
https://caymannewsservice.com/elections2025/2025/04/10/buzzwords-arent-budgets-its-time-for-truth-in-cayman-politics/
It will be interested to see the next Moody’s Investors report.
There is a remedy.
Hold all the last Gov’t MLA’s, especially the ones for the last couple of months that GAVE AWAY money to fake causes,churches, friends, party members….
HoLd tHem personally, and financialy, responsible for their actions. ACCOUNTABILITY…
McTaggert alone has at least 20 million stashed away due to his undercover deals….. McKeeva should be good for another 20 million. ect….
come on Cayman,get up, stand up. Demand they are held to account.
They getting ALL the goodies, while we work ourselves to death…. Stand Up.
Or do you like breaking your backs for their enjoyment…sorta like slaves… Yes Massa…
If McTaggart does indeed have $20Mill stashed away, he came by it honestly.
That’s what PPM are known for, after all. 🙄
Don’t forget the gay events too.
She doesn’t want to ruin her pre-retirement tea party and rub any noses the wrong way. Keep paying out the rope till when the bottom falls out beneath us. Can we also have replacing our Governor with a real one as a referendum question?
So correct…she actually does nothing.
And that, 2:57, is EXACTLY what we Caymanians wanted by changing the Constitution….just ask Alden, and Arden and Ezzard and Roy and… and.. and the whole lot of them wanting to get rid of the limeys. So stop beating your gums and crying about having governors who just have tea parties. That’s what we wanted, we wanted to govern ourselves!
Do not speak on behalf of ‘we’ Caymanians. ‘We’ do not use the word ‘limeys’, Australians do. Only rule you will get is end up worse than Jamaica.
11:58, are you seriously suggesting Caymanians don’t call English people limeys? That’s hard to believe.
who cares what we call anyone. the bigger picture is cayman can never go independent.
Tell that to Saunders.
Actually, she oversees and will step in when necessary. Like when you watch children playing pretend in the yard. If not for the UK, cayman would be baby jamrock. Remember that!
You CANNOT blame the Governor for your own incompetence and incompetence is putting it politely.She is the King’s representative but DOES NOT run this country. If the Auditor General had been at the reins we would never have been in this mess.
Well you know, when some MLAs have bar tabs the size and length of Easterly Tibbets Highway … expecting , honest , accountable , and god forbid, competent, governance isn’t exactly the priority in the agenda ! And as reminder some departments of the government have not yet presented their books for … the last three years! With that kind of circus in town, it is no mystery the Auditor quit her position in the face of such dire circumstances and facts …
Bring back Helen.
I haven’t seen any proposals from the three political parties around the timeline for independence…are there any? the usual noisy suspects seem quite quiet about it.
The successive corrupt PPM-led debt machines have seen to it over last 2 decades that we can never contemplate independence. We are married to crippling levels of debt, those in turn bound to preferential terms and backstop provided by the UK, with no reserve capacity for emergency contingencies. Even now, the CIG continues to forfeit away tens of millions to parties that don’t merit a nickel of public investment.
Vote PPM and give voice to Saunders and his Bodden town Jamaicans, and they’ll start the process.
Dr.Roy fought to keep them out and gave us the Cayman they’re all running to…from their own Independence, which turned out to be independence from the rule of law and prosperity.
A PPM vote has many dangers , some are hidden.
time to petition the uk directly to prevent us getting to the stage where we need a 3 year plan to correct this nonsense!!!!!
fco decoded: bankrupt your economy and then we will approve a 3 year plan of austerity to bring you back in line with common sense.
thanks for nothing fco.
Our national debt levels are significantly below those of other countries, even with the current projection of a deficit year. Calm down with the hyperbole.
Now we’re royally fucked. A labour government that despises the idea of looking after their own territories due to flavours of colonialism.
Guess they just want us all to eat cake.
Some of the loudest pro pier shouters would welcome that.
Clarity provided. Now can we move on.
So many people wishing for Cayman’s downfall, yet for some reason never wanting to leave Cayman. “Things that make you go ‘hmmmm’.”
That’s because they don’t want to go back to Jamaica.
Or England, or S.Africa, or Canada, or the USA, or or or
Remember: the Cayman Constitution was changed in 2020 leaving everything in the hands of the local “politicians” except if where it involves international treaties the UK is a signatory to (and by extension the Cayman Islands); or matters of national security. You’re welcome
In other words…
Vote PPM and hand over the check book to Kenny, Juju, Mac and his greedy unprincipled gang , to spend baby spend.
(After pay raises all round of course).
Yeah 2:45, Sir Alden’s gift to us all. What a disaster.
Actually it’s Joey’s gift having welcomed so many undesirables who have run to the PPM for shelter and escape from the UDPACT $hi?& show they have created.
I think they might want to get a headstart on this. Especially if JuJu gets back in.
Andre chatting pure sh*t again I see. You all keep buying into his lies and watch what happens.
I trust him a lot more than I trust you.
Better the crook you know than the one you don’t, eh?
Typical thinking that leads to the same cast of characters continuing to get elected and then appointed to the numerous independent boards. LOL
Who are the replacement OAG candidates, and where is this Governor in that acutely necessary recruitment process?
They’re interviewing those who will bend to the will of Mac, Juju, Kenneth and Saunders .
Rose with Professional Integrity need not apply.
Both the UK and DART share the joint mission of a bankrupt Cayman…the sooner the better for the disowning direct taxation parent and the vulture capitalist bearing rescue proposals. Voters need to take these near term dangers very seriously.
It is the voters fault. They voted in the politicians because the voters are just as corrupt as the politicians.If the voters wasn’t bought for money to go Miami, food, turtle meat at Christmas, paved your driveway, etc, we wouldn’t have this issue. So this election, make the choice based on who is best for the country not who is giving you a handout.
Tin foil hats at the ready ! 😅
You’re so clueless. Go back under your rock
What a stupid comment 1:41. You’ve been watching too much crap from Marjorie Taylor Greene and her Trumpist cult members and it’s messing with your brain. Or maybe it’s the “Jewish space lasers” doing that.
Dart is the danger.