Tag: Budget
CIG forecast to close the year with $22M surplus
(CNS): After tracking huge surpluses for the best part of 2023, the Cayman Islands Government is set to finish the year with a surplus of $22.7 million, some $5.1 million less than originally forecast and far less than the $116 million it was sitting on at the end of the third quarter in October.
Sir Alden challenges the reality of UPM budget
(CNS): The new speaker of the House, Sir Alden McLaughlin, challenged the reality of the government’s budget Wednesday when he took his seat in the chamber as a member of Finance Committee. He suggested the United People’s Movement had “fixed the numbers” to match what they had needed, but it was not a real budget.
Bryan calls for cruise port vote at next elections
(CNS): Tourism Minister Kenneth Bryan has said he would like to see a referendum on the idea of developing cruise port piers at the same time as people go to the polls for the general election in 2025 “to settle the question” once and for all. During his contribution to the budget debate on Monday, […]
UPM not prioritising economic decline, says McTaggart
(CNS): In his response to the United People’s Movement budget, delivered on Friday, Opposition Leader Roy McTaggart accused Premier Juliana O’Connor-Connolly and her new team of continuing to ignore the Cayman Islands’ broader economic decline and growing inequality gap, which he implied had emerged during the past two years. He accused the premier of failing […]
UPM increasing range of fees in 2024/25 budget
(CNS): Premier and Finance Minister Juliana O’Connor-Connolly said her government would increase some taxes or fees over the 2024-25 budget period, such as a rise in duty on electric cars, stamp duty in high-end locations, work permit applications and some General Registry fees. In the Budget Address delivered on Friday afternoon, she outlined an increase […]
Offshore related fees won’t increase in coming budget
(CNS): Firms operating in the Cayman Islands most important and lucrative economic pillar will not be subjected to any fee increases in the forthcoming budget, expected to be presented to parliament next week. According to a circular from the Ministry of Financial Services sent to stakeholders business fees across the financial services sector will remain […]
Parliament meeting set to deliver UPM budget
(CNS): The United People’s Movement government will bring the 2024/25 budget to parliament on 8 December. In a press release from the House, the Speaker, Sir Alden McLaughlin called for the second meeting and official state opening of the 2023-24 session of the parliament to begin next Friday at 10am. It will include the governor’s […]
CIG still running big surplus despite spending worries
(CNS): Even though former premier Wayne Panton recently urged the civil service to help cut public spending, the government is still running a healthy surplus so far this year. According to the third quarter unaudited financial report on public finances, published last week, the surplus for the Entire Public Sector stands at $116.6 million, some […]
RCIPS ‘needs to grow’ to meet demands, says CoP
(CNS): As he settles into the top job, the new police commissioner and veteran police officer, Kurt Walton, has said the RCIPS needs to grow in response to the growing population, the increase in traffic and the evolving nature of crime. Speaking to the press on Friday, Walton set out his vision for the future […]
Owen ‘not worried’ about upcoming budget
(CNS): Governor Jane Owen has dismissed concerns that the UK might step in to oversee public finances after the PACT Government presents its last budget for this administration next month. Six months after taking up her post, Britain’s representative in the Cayman Islands told CNS that she is “not worried” at this stage about the […]
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 […]
