Tag: Roy McTaggart

CI$75M deficit for 2020 well below forecast

CI$75M deficit for 2020 well below forecast

| 05/02/2021 | 38 Comments

(CNS): Contrary to predictions by government that it would end 2020 in the red to the tune of CI$168 million, the finance minister has revealed an expected deficit of around $75 million once the numbers from all the public sector entities as well as core government are finalised. Roy McTaggart said there was also $449 […]

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Premier confident PPM will ‘choose’ McTaggart

Premier confident PPM will ‘choose’ McTaggart

| 03/02/2021

(CNS): Premier Alden McLaughlin has said he is confident the People’s Progressive Movement will choose Roy McTaggart as the new party leader at the PPM conference, which is expected in the coming weeks. During an address at the Chamber of Commerce AGM last week, McLaughlin took the opportunity to campaign for a third PPM-led government. […]

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Minister has no data on impact of concessions

Minister has no data on impact of concessions

| 21/12/2020 | 43 Comments

(CNS): The finance minister has admitted that no research has been done or data collected justifying the continued duty concessions on building materials in Grand Cayman and a host of other waivers on Cayman Brac. After delivering a statement in Parliament last week renewing various import and stamp duty cuts due to expire on 31 […]

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Banks ready to dole out CIG-backed business loans

Banks ready to dole out CIG-backed business loans

| 09/12/2020 | 18 Comments

(CNS): Medium and large local businesses meeting the criteria can now apply to one of five local banks to borrow as much as CI$3 million, backed by government. Finance Minister Roy McTaggart said the loan programme was to help businesses deal with the financial hardships of the COVID-19 pandemic. Confirming that banks were ready to […]

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Minister forecasts CI$168M gov’t deficit

Minister forecasts CI$168M gov’t deficit

| 27/10/2020 | 130 Comments

(CNS): Finance Committee members heard that government is now forecasting a $168.7 million deficit by the end of this year as a result of the COVID-19 pandemic. As he opened the committee hearing for the appropriation changes to this year’s budget, Finance Minister Roy McTaggart delivered the bad financial news that everyone was expecting. He […]

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McTaggart to take over PPM leadership

McTaggart to take over PPM leadership

| 14/10/2020 | 126 Comments

(CNS): Reviewing the events of the last year, Premier Alden McLaughlin launched his own and the PPM’s election campaign on Wednesday from the Legislative Assembly when he announced that the finance minister, Roy McTaggart, will be his successor as leader of the party. McLaughlin said he was running to retain his Red Bay seat and […]

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Gov’t to guarantee $millions in business loans

Gov’t to guarantee $millions in business loans

| 05/10/2020 | 43 Comments

(CNS): The government has announced a new guaranteed loan programme to help prop up medium and larger businesses in the Cayman Islands through the current economic uncertainty. Finance Minister Roy McTaggart said it was to help businesses struggling to meet operating and capital expenditure and debt repayment or re-financing.

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Minister hopes no need to use $330M of credit

Minister hopes no need to use $330M of credit

| 21/09/2020 | 36 Comments

(CNS): A consortium of local banks has been given the green light to supply the Cayman Islands Government with access to CI$330 million at a fixed interest rate of 3.25% and a flat arrangement fee of CI$2 million to put the line of credit in place. Finance Minister Roy McTaggart said the bid from the […]

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Minister optimistic about 2021 recovery

Minister optimistic about 2021 recovery

| 17/08/2020 | 56 Comments

(CNS): Finance Minister Roy McTaggart has predicted that the Cayman Islands’ economy will grow by 6.4% next year after the expected 7.2% decline in 2020, creating a v-shaped recovery. Speaking at the Chamber of Commerce 2020 Economic Forum on Friday, he said the growth estimates for 2021 were based on measures implemented by government to […]

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COVID-19 recession could lead to tax

COVID-19 recession could lead to tax

| 13/08/2020 | 397 Comments

(CNS): Finance Minister Roy McTaggart has said that if the country runs out of reserves before the tourism sector and the world economy recovers, government may have to consider taxation. Though reluctant to use the word, he said that given the current situation with the COVID-19 pandemic, things could get very tough for the public […]

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Census postponed until 2021

Census postponed until 2021

| 04/08/2020 | 6 Comments

(CNS): Finance Minister Roy McTaggart confirmed Thursday night that the national census, which had been due to begin in October of this year, has been postponed. As last week’s session of Finance Committee was in its final stages, McTaggart said that the census, which is suppose to happen every ten years, would now begin in […]

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May Elections: INTERACTIVE DISTRICT MAP