Tag: Framework for Fiscal Responsibility
JOCC calls for financial independence from UK’s ‘big stick’
(CNS): Premier Juliana O’Connor-Connolly has said the Framework for Fiscal Responsibility, which gives the United Kingdom the power to veto the Cayman Islands budget if it falls foul of the strict criteria, should be reviewed. She said that this jurisdiction needs to be more financially independent with “our own internal FFR” and described the UK’s […]
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 […]
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 […]
Archer targets red tape and debt
(CNS): The finance minister is hoping discussions he had with UK officials during the government’s trip to London last week will help him pay down more of the public debt and reduce bureaucracy on capital projects. Marco Archer told a small branch meeting of the PPM Wednesday that there were some issues with the Framework […]
Cayman presses UK officials for changes to FFR
(CNS): Cayman’s finance and economic development minister has been pressing UK officials to make changes to the Framework for Fiscal Responsibility, which is now part of the Public Management and Finance Law. Marco Archer, along with Financial Secretary Kenneth Jefferson and Premier Alden McLaughlin, began the discussions with Foreign and Commonwealth officials in London Tuesday […]
Mac: PPM can’t take credit for fiscal compliance
(CNS): Opposition Leader McKeeva Bush says the PPM government should not be taking credit for meeting the requirements of the Framework for Fiscal Responsibility (FFR) that the UK made him sign because of the “terrible way the PPM had destroyed up our finances”. Bush said it was his administration that set the wheels in motion when […]
CIG one step away from regaining budget control
(CNS): The Cayman Islands Government is within reach of finally regaining control of the public purse and budget process after the cash reserves ratio required under the Framework for Fiscal Responsibility was met this fiscal year. Finance and Economic Development Minister Marco Archer said he had written to the Foreign and Commonwealth Office (FCO) about […]
