RSSGovernment Finance

Budget creaking under weight of COVID costs

Budget creaking under weight of COVID costs

| 02/09/2021 | 84 Comments

(CNS): Government voted an additional CI$28.4 million for managing and administrating protocols surrounding the COVID-19 pandemic for this year, including quarantine and testing costs. In addition to paying people who are out of work as a result of the closed borders and supporting small businesses, the government is spending a significant amount on the isolation […]

Continue Reading

Over CI$58M added to 2021 budget

Over CI$58M added to 2021 budget

| 02/09/2021 | 33 Comments

(CNS): More than CI$58.1 million has been added to government’s 2021 budget after a Finance Committee meeting on Wednesday. There were some very significant increases in the budget, including another $28m to manage the COVID-19 pandemic, over $8m more for scholarships and $4m to help support tourism businesses. Tropical Storm Grace also added another $6m […]

Continue Reading

No sign of deficit at 2021 halfway point

No sign of deficit at 2021 halfway point

| 23/08/2021 | 35 Comments

(CNS): With the release of the government’s unaudited accounts for the first six months of 2021, there is still no sign of the anticipated deficit by the year-end, as government revenue continues to increase. The results for the first half of the year show a government surplus of CI$155.8 million, which is $23 million better […]

Continue Reading

Gov’t paid only lip service to PAC’s reform advice

Gov’t paid only lip service to PAC’s reform advice

| 16/08/2021 | 14 Comments

(CNS): The former chair of the Public Accounts Committee has said that, with the assistance of the auditor general, over the last few years PAC had significant success getting government’s accounts sorted out, but it was much less effective in achieving substantive reform and greater accountability in the area of value for public money.

Continue Reading

Ministries still failing to report on cash collected

Ministries still failing to report on cash collected

| 26/07/2021 | 39 Comments

(CNS): Two of government’s most senior accountants, Financial Secretary Ken Jefferson and Accountant General Matthew Tibbetts, told Finance Committee Tuesday that work is underway to get each ministry to properly report on the coercive revenue they collect on their own books. Currently, funds that government entities collect from members of the public and businesses appear […]

Continue Reading

MPs clear CI$3.5 million for wages in 2021

MPs clear CI$3.5 million for wages in 2021

| 21/07/2021 | 195 Comments

(CNS): Elected members ensured that they will all be paid their newly increased salaries and additional benefits this week when an amendment was added to the supplementary appropriations bill for the 2021 budget to vote for the cash required to cover the cost of running Parliament and their wages. Some CI$3.5 million has been set […]

Continue Reading

PACT changes policy on overseas offices

PACT changes policy on overseas offices

| 20/07/2021 | 90 Comments

(CNS): Financial Services Minister Andre Ebanks has announced a policy review of the previous government’s plans to open overseas offices, and said that a team of new staff employed around the time of the elections by the now disbanded Ministry of International Trade, Investment, Aviation and Maritime Affairs will need to be retrained for different […]

Continue Reading

Inflation one of several threats on horizon

Inflation one of several threats on horizon

| 15/07/2021 | 120 Comments

(CNS): In his address to Parliament on Wednesday on the PACT Government’s first strategic policy statement, Finance Minister Chris Saunders painted a relatively optimistic picture of figures for public finances and the economic recovery from the COVID-19 fallout. But he also noted some threats on the horizon, not least the problem of inflation. Caymanians are […]

Continue Reading

McTaggart goes on PACT attack

McTaggart goes on PACT attack

| 15/07/2021 | 108 Comments

(CNS): The opposition leader wasted no time setting out the opposition stall in his first address to the new Parliament on Thursday, going on the attack against the PACT Government. Roy McTaggart accused the government of leaving the country adrift, taking too long to set out its policies, criticised its border opening plans and derided […]

Continue Reading

PACT predicts future surpluses

PACT predicts future surpluses

| 14/07/2021 | 59 Comments

(CNS): The finance minister has predicted that the government will be able to cover its operating costs throughout this administration, with 2021 being the only exception. Addressing Parliament on Wednesday as he tabled the 2022-2024 Strategic Policy Statement, Chris Saunders has said there will be no new revenue raising measures in the coming years but […]

Continue Reading

McTaggart hits back over stipend provision

McTaggart hits back over stipend provision

| 06/07/2021 | 59 Comments

(CNS): Opposition Leader Roy McTaggart, the former finance minister, is defending his role during the previous administration after the current minister, Chris Saunders, criticised the PPM for not making any provisions to cover the cost of stipends for tourism workers impacted by COVID-19, either at the current rate or with the increase that the former […]

Continue Reading