Tag: Chris Saunders
Public finances remain solid despite COVID costs
(CNS): The unaudited financial report for the first two months of this year reveal that the Cayman Islands Government has remained in the black, despite the continued economic uncertainties, reduced earnings from tourism and increased spending due to the COVID pandemic. The CIG earned CI$2.7 million more than expected and spent CI$9 million less than […]
Census reveals 56% of workers not Caymanian
(CNS): On Thursday evening the Economics and Statistics Office (ESO) published the preliminary report of the 2021 Census, which revealed an estimated population of 69,656 living across 29,502 households. Just under 53% of those living here are Caymanian, and there has been an increase of around 6,300 people since 2010. The unemployment rate among local […]
2021 deficit expected to be CI$10 million
(CNS): The government is now expecting its spending gap for 2021 to be around CI$5 million less than it had predicted during the recent budget presentations. The public sector year-end figures are expected to be released shortly, but in the meantime, Finance Minister Chris Saunders has revealed that the deficit is more likely to be […]
PPM calls for case by case assessment on stipend
(CNS): Opposition Leader Roy McTaggart has criticised the PACT Government for its handling of the tourism stipend and its efforts to reduce the number of recipients, as the PPM responded to the government’s last-minute U-turn. Following a backlash from people who were told that they would no longer be receiving the money, the government introduced […]
Labour minister pushes bosses to take on locals
(CNS): Employers will not find it as easy to get work permits approved as they did in the past, Labour Minister Chris Saunders said Thursday, revealing that applications for permits are being increasingly scrutinized. Saying that the PACT Government is committed to a ‘Cayman first’ policy and enforcing this part of the immigration law, the […]
Ministry begins cutting tourism workers’ stipend
 (CNS): More than 600 tourism workers are being trimmed from the list of about 3,000 original recipients of the government’s monthly CI$1,500 stipend, which was created to help them survive after Cayman closed its borders to visitors almost two years ago. But many of those who have returned to work are still receiving only a […]
Real estate sellers won’t get work permit carve-out
(CNS): Over the last decade around 150 work permits have been issued to real estate agents, according to numbers released by WORC. In the last year alone 25 permits have been issued in what realtors call a competitive market with limited inventory. But government is not contemplating carving out these jobs for Caymanians. While PACT […]
Saunders defends PACT’s fiscal policy
(CNS): Finance Minister Chris Saunders has appeared in a government-produced video delivering a prepared statement in which he defended the government’s fiscal policies for refinancing of debt and funding social services, education and ensuring Caymanians benefit from the country’s wealth.
Bond to help CIG meet social welfare costs
(CNS): Finance Minister Chris Saunders has said the decision to consider issuing a US$400 million bullet bond in the US capital markets will enable government to restructure the public debt over a longer period and offer the flexibility it will need to meet the country’s growing welfare costs.
CIG revokes PR from 41 bad debtors
(CNS): In a rare move, Workforce Opportunities and Residency Cayman (WORC) has revoked the permanent residence (PR) certificates of 41 people, as of 31 December, after they failed to pay their annual fees. The people in question were described as bad debtors and each of them had received numerous letters before their PR status was […]
COVID contracts and spending under scrutiny
(CNS): The money government has spent on supplies to tackle the COVID-19 pandemic is being scrutinized by the Office of the Auditor General. Since the start of the pandemic in March 2020, government has spent tens of millions of dollars managing the impact of the virus here, both directly and indirectly.
