RSSGovernment Finance

Minister has no data on impact of concessions

Minister has no data on impact of concessions

| 21/12/2020 | 43 Comments

(CNS): The finance minister has admitted that no research has been done or data collected justifying the continued duty concessions on building materials in Grand Cayman and a host of other waivers on Cayman Brac. After delivering a statement in Parliament last week renewing various import and stamp duty cuts due to expire on 31 […]

Continue Reading

OAG: Budgets are opaque and complex

OAG: Budgets are opaque and complex

| 18/12/2020 | 46 Comments

(CNS): The government’s budget process is neither effective nor transparent and needs significant improvement to make it more simple and accountable, the auditor general has said in her latest report. Sue Winspear said that limited progress has been made in addressing the concerns her office has raised for more than seven years about how government […]

Continue Reading

CIG spends nearly $3M on new fire trucks

CIG spends nearly $3M on new fire trucks

| 16/12/2020 | 21 Comments

(CNS): The Cayman Islands Fire Service (CIFS) has received seven new fire fighting trucks, which cost US$3 million, to replace its existing domestic fleet. The new trucks have arrived just a few months after the Ministry of Home Affairs spent almost $3.5 million on new trucks for CIFS aerodrome service. The new trucks were picked […]

Continue Reading

CI$¾M found to fund sports, including CIFA

CI$¾M found to fund sports, including CIFA

| 14/12/2020 | 62 Comments

(CNS): Despite the decline in government revenue and the additional strain on the public purse in the face of the COVID-19 pandemic, government has found almost CI$788,000 more for Cayman’s sports associations in a budget reshuffle. Many sports, from athletics to volleyball, will now get $150,000 per year, which is a massive boost for some. […]

Continue Reading

PAC troubled by salary hike ‘mistake’ at CTC

PAC troubled by salary hike ‘mistake’ at CTC

| 19/11/2020 | 90 Comments

(CNS): What has been described as a salary hike ‘mistake’ at the Cayman Turtle Centre resulted in 24 people, including the CEO and other senior managers, getting a second pay increase that they should not have received, which took almost 12 months to be spotted. This so-called error troubled the Public Accounts Committee during its […]

Continue Reading

Turtle farm accounts delayed by fraud case

Turtle farm accounts delayed by fraud case

| 18/11/2020 | 34 Comments

(CNS): The delayed release of three years worth of the Cayman Turtle Centre’s accounts was due to a “very complex” audit resulting from financial irregularities uncovered in 2017, the Public Accounts Committee heard Wednesday. Four people have been charged with fraud-related offences in the case of corrupt procurement at the government-owned farm that has sucked […]

Continue Reading

Public spending increasing as earnings fall

Public spending increasing as earnings fall

| 12/11/2020 | 38 Comments

(CNS): As government faces a significant decline in revenue due to the COVID-19 pandemic, the latest quarterly report from the finance ministry has revealed that it is spending much more this year than it budgeted. But although the ministry blames the pandemic, the public spending is not all about fighting the virus. Recent Finance Committee […]

Continue Reading

Airport to cost well over minister’s $100M claim

Airport to cost well over minister’s $100M claim

| 09/11/2020 | 88 Comments

(CNS): Tourism Minister Moses Kirkconnell told Finance Committee last month that the total cost for the terminal and airfield work at the Owen Roberts International Airport (ORIA) would be $100 million. But a press release from the Cayman Islands Airport Authority (CIAA) has revealed that the minister is off by well over $17 milllion. Airport […]

Continue Reading

Deficit also fuelled by non-COVID spending

Deficit also fuelled by non-COVID spending

| 02/11/2020 | 19 Comments

(CNS): With revenue down by just under CI$70 million at the end of September and government spending on direct and indirect COVID-19 related costs expected to be around $80 million by the year end, the projected deficit of $168 million is not unexpected. But government had forecast a surplus of around CI$95 million by the […]

Continue Reading

COVID-19 costs obscured in budget reshuffle

COVID-19 costs obscured in budget reshuffle

| 30/10/2020 | 15 Comments

(CNS): Government has appropriated an additional CI$100 million in expenditure across various ministries as a result of the COVID-19 pandemic. But the actual expenditure has been blurred in the re-budgeting of line items presented to Finance Committee this week, with government lumping COVID-19 related spending with other expenditure, using unspent allocated coronavirus cash on other […]

Continue Reading

Gov’t must explain how it’s financing JGHS project

Gov’t must explain how it’s financing JGHS project

| 29/10/2020 | 76 Comments

Johann Moxam writes: The legacy of mismanagement by former Minister of Education (2005-09) and now Premier Alden McLaughlin (2013-21) will feature many chapters on project mismanagement and his government’s penchant towards initiating institutional or infrastructural projects without the ability to manage them. This determination to build big shiny structures or black shiny roads regardless of […]

Continue Reading