Government Finance
PPM accuse PACT of heading for 2023 deficit
(CNS): Opposition Leader Roy McTaggart has said the Progressives abstained on every vote during last month’s Finance Committee because of concerns that the PACT Government is heading towards a budget deficit for this year. In a recent statement, McTaggart, who has also urged PACT to increase welfare support and other spending, said government expenditure was […]
Notorious healthcare bills climb to new high
(CNS): The public purse will be picking up a record-breaking tab by the end of this year to cover the hospital bills both at home and abroad for people who are either under- or uninsured. Although the 2021 Census suggested that 93% of Cayman Islands residents have health insurance, in 2023 the government is expecting […]
Surplus expectations fall to low of CI$3.3M
(CNS): Financial Secretary Ken Jefferson admitted to parliament on Tuesday that the government might be sailing very close to the wind with the revised expectations on this year’s budget. Spending by the end of this year is expected to reach over CI$1.03 billion, an unprecedented amount, leaving the government with a surplus of just $3.3 […]
PACT presses ahead with Asia office
(CNS): The establishment of a Cayman Islands Government office in Singapore has been approved by Cabinet. The office, which will be headed by Gene DaCosta as the CIG’s overseas representative to Asia, is expected to be open for business well before the end of the year after the administrative details have been completed.
PPM motions would hike spending if adopted
(CNS): At least three of six private members’ motions filed with the parliament by the opposition ahead of the meeting next Tuesday would increase public spending significantly if the government accepted and implemented them. Despite Opposition Leader Roy McTaggart’s criticism of PACT’s management of public finances, his team is calling on the administration to spend […]
FFR could block spending on climate resilience
(CNS): Premier Wayne Panton has said the Framework for Fiscal Responsibility could prove too conservative for Cayman to invest in the necessary projects and initiatives to future-proof the country and develop resilience to survive the changing climate unless the cap on the debt can be lifted. PACT’s policy goal of a sustainable future and preparing […]
CI$1.7M deal signed for new Red Bay classrooms
(CNS): The Ministry of Education has signed a deal with local contractor Ron Wilson’s Equipment and Construction to build three Year 6 classrooms at Red Bay Primary School. The new school block is expected to cost around CI$1.7 million and will allow the three existing Year 6 classes to be converted into three Reception classrooms, […]
PPM doubts PACT will achieve budget cut
(CNS): Cutting almost $50 million in spending over the last four months of the year is a huge task, Opposition Leader Roy McTaggart has said following news that Premier Wayne Panton is seeking an 8.5% reduction in the budget for the remainder of this year. In his latest video message, McTaggart said the need to […]
CI$550K added to housing repairs budget
(CNS): Cabinet has approved an additional CI$550,000 for a second Housing Repairs Assistance Programme to help people who don’t have the means to repair their homes. The government has also authorised the National Housing and Development Trust (NHDT) to use $1.6 million of its budget to do the same thing for people not eligible for […]
Premier seeks 8.5% cut to this year’s budget
(CNS): Civil service bosses have been told to cut spending by around $47 million before the end of the year. With just four months left of 2023, Premier Wayne Panton, wearing his finance minister hat, has called on public servants to save cash as operational expenditure climbs toward $1 billion. He told CNS this wasn’t […]
Children’s homes to stretch CI$100k for upgrades
(CNS): The government has approved an additional CI$100,000 for the CAYS Foundation, a non-profit organisation that runs the Bonaventure Boys’ Home, the Frances Bodden Children’s Home and a secure facility for children on care and protection orders, Phoenix House. The money will be used for much-needed upgrades to the organisation’s IT network, additional housing facilities […]
