Still no UK budget approval
Posted on Thu, 07/26/2012 - 15:22 in Politics
(CNS): Following comments by Premier McKeeva Bush on Wednesday evening implying that he had forwarded his new 2012/13 budget plans to the UK for approval, the governor’s office has issued a statement that appears to contradict the claim. In a carefully worded statement released Thursday afternoon Governor Duncan Taylor revealed that budget negotiations are ongoing. The governor said that the UK economic advisor working with the Cayman government is still waiting to see detailed proposals on the Cayman budget that he could recommend to the Overseas Territories minister, Henry Bellingham. Bush said in a broadcast address to the nation on Wednesday that government was now awaiting “approval from the FCO of our Budget parameters” in respect to his new spending plans, which included the expat tax. (Photo Dennie Warren Jr)
Taylor did not comment on the new direct taxation on the earnings of work-permit holders that has been proposed by the premier but pointed out that the FCO’s Economic Advisor had set out the broad framework for a sustainable and credible budget to the Cayman government.
“He would need to see a draft budget which fits that framework before he could recommend to Minister Bellingham that he approve it,” Taylor said. “He has made clear that he would expect the Cayman Islands Government to achieve this through a combination of expenditure savings and measures to raise revenue: the precise nature of these is largely a matter for the Cayman Islands Government but they must be credible and sustainable.”
See both the governor and the premier's statements below.
| Attachment | Size |
|---|---|
| Governor's Statement on Budget July 26th 2012.doc | 662.5 KB |
| Premier's Budget Statement July 25th 2012.doc | 500 KB |
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.ho hum...and the GLF
.ho hum...and the GLF settlement will not come out of the public purse...and it was a real etsate commission....blah blah
Mr. Bush and his
Mr. Bush and his colleagues do not have have the courage to do the right thing -- take an axe to the bloated civil service. The UDP are making a conscious choice of votes over doing what's best for the country. Playing politics instead of taking fiscal responsibility. I listened to the two UDP MLAs on Rooster speak about their responsibility to take the difficult decisions (i.e., the expat income tax) on behalf of the country. Rooster shit! The difficult decision they need to make is to cut the civil service.
I cannot agree with you more,
I cannot agree with you more, cut the civil service. Get rid of every single CS employee that does not have a Caymanian born grandmother, grandfather, mother and father. Oh well the least we will ask for is a Caymanian grandmother, mother and that the employee is born within the Cayman Islands or if they were not then proof must be give as to being born overseas due to medical reasons and that person should have return to and lived for atlest 17 years in the Cayman Islands. I totally agree the should cut the CS, this service should be fully staffed with Caymanians only. I am one for cutting all non Caymanians from the CS.
If you cut the civil service,
If you cut the civil service, Mr. socalled Premier, what will you do with the 6 to 9 hundred unemployed civil servants??????????????????????????? At least if you get at the expat, they have a home to go to
The WHOLE reason why Bush
The WHOLE reason why Bush can't balance the budget and he's thrown in the towel and passed it over to the Governor is because he doesn't have "the undercarriage" to cut expenditure by substancially reducing the size of the civil service. You don't need to be a CPA to see that without doing this, BALANCING THE BUDGET is absolutely impossible.
They join the real world and
They join the real world and find jobs, or start businesses, like the rest of us in the private sector. If they're all so well educated an experienced they should have no problem, right? Or is there some doubt in your mind ex-civil servants can find work without positive discrimination? Your attitude is typical of the Caymanian entiltement culture. The country doesn't owe you or any other civil servant a living. These are difficult economic times and they'll be people from all sector loosing their job, INCLUDING THE CIVIL SERVICE, if the UDP followed the advice of the Miller/Shaw report and di the right thing: take a huge axe to the civil service and balance the budget.
do we owe you anything?
do we owe you anything?
We all know this will end up
We all know this will end up being 5% tax across the board... who does he think he's fooling? He just does not want to be the one to impose tax on his own people for political purposes...
Why is this man so power hungry, has he not already bled enough from the country?
On further thought maybe the
On further thought maybe the UK will approve this and laugh at the irony that in the end we destroyed ourselves!
The phone rings and the
The phone rings and the operator directs the caller to the Premier.
"The Honourable Premier speakin"
"Mr. Premier, this is Henry Bellingham here"
"Tell him I eatin"
"Mr Premier, this is Henry Bellingham here"
"Oh it you - y u did not say so"
"How is the budget coming? You sent us three blank pages"
"Dey sent tree? I taught dey sent fo"
"Why did you send the pages blank Mr. Premier?"
"Cause I tryin ta show u how broke dem PPM made us"?
"Da first page say we ga put income taxes on yo donkey face people"
"Da secon page say we ga take Baines helicopta an sell it"
Da tird page say we have ta go way and we hav no time fa no budget"
"And the fort page says we so broke we na ga no ink an no money ta buy any"
"Anyway. I busy eatin. How u? U like turtle stew?"
The UK wont approve a budget
The UK wont approve a budget that doesnt suit their interest.
Cayman has a choice - stick with UK and get taxation, or move on.
Move on to where?
Move on to where? Independence. Perhaps that is what they want us to do by pressuring us, but I don't think the majority of Caymanians will allow it.
This is Big Mac's ploy for
This is Big Mac's ploy for Independence. Mother England did not get us into this mess, our decade long two-party system of wasteful spending did!
$498 million per year on 54,000 population?
The bloated civil service relying on work permit fees to pay their salaries is bad Mac math pure and simple. Our politicians are afraid to educate the people (38% iliteracy rate suits our politiicans just fine...) Unedcuated votes make easy targets and boy have we fallen for these silver tongue greedy self serving politicians.
Stop the slush funds, gasoline scandals, chinese pocket filling plans, private jets.....
For crying out loud, I'd rather have the UK and an accountant in charge....Throw the bums OUT!! (all of them, PPM and UDP alike)
Bring back the local Custos and a group of accountants and put the politicians in prison!
ummm... will the Uk in charge
ummm... will the Uk in charge be politicians too?
That is good stuff! Right on
That is good stuff! Right on the mark.
What a non response !! Way to
What a non response !! Way to go governor ... just earn that salary.
Just earn that salary and
Just earn that salary and those double pensions McKeeva.
They are not going to quickly
They are not going to quickly approve a budget after we have spent like there was no tomorrow on schools, roads, buildings, churches, et cetera. Our economic downturn from PPM's days to UDP days were as a result by how these two irresponsible partys spent without thought of the rainy days. The FCO gave UDP many chances to make it right, despite their heavy restrictions upon the UDP to borrow. I hear some say Alden would do a better job. I don't think so. Once a spender always a spender. Discipline is something you don't learn over night. We need new fresh and educated lawmakers this time round.
I just modify your comment, I
I just modify your comment, I hope that's fine with ya.They are not going to quickly approve a budget after we have spent like there was no tomorrow on Private Parking lots, roads in Cayman Brac, and the building ( Hurricane Shelter Brac), Churches, et cetera. Our economic downturn from the recession, and the UDP Party who spent without thought of rainy days. The FCO gave UDP many chances to make it right, despite their heavy restrictions upon them to borrow. I hear some say Alden would do a better job, and I think he would. But UDP is always known to be heavy spenders. Discipline is something you don't learn over night. We need new fresh and educated lawmakers this time round.
I modified your comment, because I'm tired of hearing people blaming PPM along side UDP for this financial mess we have, it's only one party to blame. PPM done what other Government failed to do, because they ignore those sames projects like the Schools, Roads ( Bypass ), and even the Administration building, because the Glass House was no longer suitable, and even the new Licence Department, ( which the old one was running out of space ), all of these projects was suppose to been started or completed long before PPM came into power in 2005. Ask this present Government, why they didn't started those projects between 2001-2005, when things was much more reasonable?
What!!! i alomost choke on
What!!! i alomost choke on my tea. That is people like you will always be getting these two half brainers into power all the time.
I applaud the Premier for his
I applaud the Premier for his cleverness and shrudness against the FCO. Wish he was my attorney ;-)
McKeeva has miserably failed
McKeeva has miserably failed to provide this country with a budget. Our country is bankrupt and in such a horrible mess that the FCO is about to step on him like a cockroach, and we have idiots here singing his praises and wishing he was their attorney. Talk about the blind leading the blind.
With any luck his cleverness
With any luck his cleverness and shrudness will get him kicked out of the Cayman Islands Government very shortly.
Dear Premier, please do not
Dear Premier, please do not implement an income tax in Cayman, it is the opposite you should be doing. I fear this tax will be equivalent harm to this wonderful island like an oil tanker spoiling on 7MB or all fish dying in the North Sound and the sand bar.
I am an Expat, I come from Germany, I used to pay 50% taxes. I don't mind paying taxes, if I get something for it. In Germany, it includes free nursery, school and university, almost free high end healthcare, free autobahn, unemployment insurance and more. Nevertheless I come from a place like most other Expats, where avoiding taxes is in our genes. Do not think taxing us will be easy. You will need a lot of people trying to find people avoiding taxes. You will have to amend the laws. People will get around them. You have the most intelligent force of tax lawyers in the world on this island. It will not work! You will then have to tax your Caymanians. That will not work either.
If you look at Germany today, many agree that the decisions that made Germany Europe's powerhouse today happened 7 years ago when chancelor Gerhard Schroeder introduced the agenda 2010 (http://en.wikipedia.org/wiki/Agenda_2010). People hated him for this at the time but today even Angela Merkel from the then opposition gives him the credit for today's success.
Please, this place is a small country, with all due respect, it is not bigger than a small town from where I come from. Why do we need such a big and expensive government. I can tell you, civil servants do not do a better job in Germany than here, paper work is boring and complicated stuff. Ease the paper work for everyone. Make painful cuts for everyone, it is a harsh economic situation for all out there.
If you need to implement a tax, tax 2nd appartments and large homes over 300.000K yearly. These people have money and have it working for them.
The 10% Expat tax will only hit the not so well of, including all Caymanians, indirectly today, directly in 6 months when they will be included in a pay roll tax. Don't say it won't come, it obviously will.
Stop it before it is to late. Please.
Thank you for not insulting
Thank you for not insulting us about Cayman kind or entitlement culture in your statement poster 17:46, your statment is right on, but i think it would not be right to cut our civil service with so many Caymanians out of work, and the work permit workers stay on,and our government will still have to pay out more in social services, but you see some expats would not mind that because they dont care, money is there god.
Nothing is wrong with cutting the civil service but cut the permit holder first, or there will be the devil to pay, be carefull expats this is what is makeing people turn against you, it happend elsewhere also, have you not wondered why so many countries dislike europeons and americans?.
Leave people countries alone you are no better than them, by the way poster 17:46 i am not directing this at you, you seem to be more sensible than a lot of expats who came to someones country and insult them and still expect to be welcomed, do not make yourselves unwelcome every where you go,wake up you are no more special than anyone,get off your high horse,be humble you are not god.
Dear Yaron Rado, thank you
Dear Yaron Rado, thank you for your wonderful insight into taxes and the benefits that you have in Germany due to paying 50% taxes there. I could only hope that such could happen here but we all know that it will not. As a human and Caymanian who has never paid direct taxation in my country I too don't like or want to have to pay taxes however we are now between a rock and a hard place and income tax is the best option at this time. I would gladly take taxes over layoffs and the effects thereafter like crime and poverty that it will bring. For many years as a matter of fact since these islands were settled up until 1997 pension or health insurance were not mandatory so employees and employers paid nothing and salaries were a lot higher than today. I would really like for you to see things thru the eyes of just this one Caymanian and tell me how bad and immoral a 10% taxes on income for expats is verses what Caymanians have had to endure since about 1978 as this is when the real big economic boom began. First of all our population increased from about 15,000 to about 55,000 there was more demand for roads and other infrastructural needs. Our natural birth rate is 2.2 and I can assure you there would be less than 2,000 Native Caymanians if the same standard was held to measure as they do in Germany. I can assure you that if that was the case our government would not have to spend 0.01% of what they have spent since 1978 for the upkeep of these islands. I say all that to say this, in all fairness you have to pay the piper sometimes and there is no free lunch. Germany is a wonder place that I had the opportunity to visit and would have stayed and worked if it was as easy as it has been for all of my wonderful expat friends that come here to work, live and later become Caymanian. An unfortunate luxury that will never be given to me in Germany even when I would be more than willing to pay my 50% taxes to live in such a culturally diverse and wonder place. I too love to drive on the Autoban and love love October fest and the beer gardens.
You can go to Germany anytime
You can go to Germany anytime you like Buddy, provided you go get your British Passport that you were given for God knows what reason.
Enjoy the sauages and beer (and 50% tax)
And government services that
And government services that work EFFICIENTLY
This Government is a
This Government is a joke.
The UK will soon take over and clean house to the detriment of this island and its citizens.
Inverstors can and will go elsewhere. They certainaly don't need this nonsense and insecurity.
And that is why he is
And that is why he is complying to their demands now, before he didn't, but they put the pressure on him - way to go Mr. Governor and Bellingham
I am one for the UK coming to
I am one for the UK coming to clean house to the advantage of the Cayman Islands, we need law and order. One thing that I know for sure where there is law there will be order. One thing that I know for sure the UK brought law and order to TCI and the only investors that I see running are those that were shady to the core so like roaches when the light come on they run. Investors above board have nothing to hid it would be a good thing to lose some of those that bring the character of these islands into question. If it takes the UK to clean house and do this then I am happy for that and pray for their arrival. I will be there to greet them with open arms when they arrive and I pray for their speedy arrival. Your for a better Cayman a place of Law and Order. Welcome UK would be nice to have you here.
FYI, great and wonderful
FYI, great and wonderful investors that created jobs in TCI fleed, so I don't know what your talking about!!!!
Mac doesn't care what anyone
Mac doesn't care what anyone says including the UK he has no respect for them or the people of the Cayman Islands please let's stand up even his party members need to say WT fudge!
There is a lot of talk about
There is a lot of talk about economic measures that are being tossed around for implementation and the fact is that we are struggling not just the government but also the people of the cayman islands and indeed the world at large to find the right balance of income and expenditure.
The Cayman economic model of yesteryear is gone. Services that we have enjoyed over the past 30 years based onnan economic model of purelynby consumption tax and continued inwarink vestment can no ono longer continue for us with the present state of world economies that have so lustily thrived on for so many years. A lack of concise economic planning for a small island community like ours has placed us where we are today. The lack of understanding of the inflows and outflows of capital of investment and the management of funds from external economies that contribute to the local economic importation consumption tax coupled with outflow of immigrant remittances and reckless yes reckless spending by successive governments has brought us to our knees.
The new order for countries such as ours is a carefully crafted strategy that manages economic development and inflow of foreign investement and creates not only a reasoable return on capital investment but also ensures that we manage the investment that has to be made and more importantly sustained . Sound growth management policies and strategies coupled with careful management of our Expense base will over a period of time will enable us to have a sustainable economy that' we all contribute to its well being.
We are now looking at a payroll tax which at the end of end of the day be the burden of those who through our inward investments posture and migration laws live with bsucced remita sustantal piortion of their earnings to their hoe countries.sum f theirshould consider contributions by all as is the norm in other economies, however what is rally debatable is who can and who can't afford same int the economic ties we live in.
If you mean don't blow
If you mean don't blow through so much money year after year, I agree with you.
"Fiscal responsibility" does
"Fiscal responsibility" does this include things like the Nation Building slush fund for Mac's political gain? How about his Neighborhood being paved with Chip and Spray while his street is asphalt? Solar Panals? Paving the Brac? Criminal investigation three of which have been made public.
How can we take this man and his buffoon ideas serious.
Don't forget the water truck
Don't forget the water truck that we all paid for to go and wet down the chip and spray in Macs neighbourhood so that his car didn't get dirty. Ask anyone who lives on Boltins Avenue.
These guys know what they are
These guys know what they are doing. Look at the controvery in TCI over the VAT tax. What is disturbing about the developments there, is that during the process, there was no democratic interaction between the people and the FO, and there was no independent body to prevent possible corruption from the interim UK administration. How will the VAT tax be dealt with. I would be studying closely what goes on up there, because it more than likely will be us.
With all the woes happening
With all the woes happening in TCI it is still a wonderful place and there are still tons of non natives living, working and doing business there. I would have expected to see the country clean of expats business and workers but it was quite a surprise I saw more expats there now than my last vist a few years ago so things can't be that bad. I does not look anything like Jamaica in the late 1970s and 1980 when everyone and their animals were leaving. People the world over love and respect the rule of law.
McKeeva Bush: "Fiscal
McKeeva Bush:
"Fiscal responsibility has always been the hallmark of my Government and it always will be: the future of the Cayman Islands depends upon it. This is a tremendous step away from the normal Government Budget – but the FCO has the upper hand and to give them their due, some of their solutions to our financial position are warranted.
Cayman does need to put sustainability tests on all that we do. We need as a country to buckle down to the integrated national planning, planning our development for the common good, which is in our Manifesto and in keeping with our down-to-earth, pragmatic values.Based on the deep cuts and necessary revenue measures proposed in this budget the Government will launch a series on public informational meetings commencing at the Mary Miller Hall on Monday July 30th at 7:00PM
May God Bless the Cayman Islands, its citizens and its residents"
At least one thing with Bush, he does admit that SOME of the solutions are warranted. But I am just curious, these solutions thrown at him by the FCO, which solution does he think is not warranted? To me, there are not solutions conducive for Cayman. Bush its time to take a stand.
- Nation Building (Please
- Nation Building (Please vote for UDP) Fund
- Solar (I can not see the light but please vote for UDP) Panels Fund
- Home (Now I do not have to personally buy the fridge) repairs
Here is like 25 million we can cut right there.
Travel that's a next cool million.
LA Salaries cut 20% - That's 300k ish
No new MLAs. Pull the damn load yourselves
NO double dipping pensions & salaries
That's where we start.
I believe I stated this before. Taxes is NOT the answer. We need to patch the leak first. We need cut cost first. We need automate more government functions first. Once we have cut in all the places we can cut and stopped the leaks we have ie Gas Cards, travel, paving etc. THEN we can look at whether we need to drive any addition revenue measures and I still have casinos holding as an option well before we start doing taxes.
I stick by my personal beliefs that with Casinos and when Doctor Shetty gets his hospital up and running this turmoil we are going thru will settle down with prudent fiscal management that is not TRYING to win an election with CAPITAL expediture. I believe whoever wins 2013 has to face the simple fact that they are more caretakers than world shakers. A good next government does not seek to do many if any NEW PROJECTS unless its revenue driven and only tries to ensure we are better off than we were when they came in.
This is how I see it.
If the next government can survive peeling away some of the additional taxes places on us by the defunct UDPO government that would be good also. I feel this will move to stimulate the economy. We need to stimulate the economy to get it rolling not introduce more taxation.
Taxes is not the
Taxes is not the answer???!!! Say that to Bellingham the FCO Minister. I hope you are not implying that we should make unemployed 600 of our civil servants.
Yes, cut 600 civil servant
Yes, cut 600 civil servant jobs, period. My husband is Caymanian and does not work for the civil service. I have been here for 20 years and do not work for the civil service. NO TO PAYROLL TAX FOR ANYONE... STOP SPENDING $498 MILLION PER YEAR ON 54,000 POPULATION, PERIOD.
I am all for cutting 600 expat jobs and placing six hundred Caymanians into these jobs. Immigration failed us, but it is no reason why 600 bloated civil servants should be entitled to a salary.
Vocational education = We should have local electricians, local a/c repairmen, local plumbers, local hair dressers, these All PAY THE SAME as a mid level civil servant but offer ownership and growth....
Down with entitlement and slush funds.
Isn't this lovely? Everyone
Isn't this lovely? Everyone cutting each other's throats. This is what Cayman has come to: totally divided. Expats and private sector screaming "cut the Civil Servants", Caymanians saying "tax the expats" etc.
you wouldnt be talkin if he
you wouldnt be talkin if he works for the civil service and his salary pays for your mortgage
"Fiscally
"Fiscally Responsible"!!!!!!???????????????? Does his right side he is talking out of realize us listening are NOT all idiots! What about his travel, his salary, paying off the harbour deal (which would be being BUILT now), his "security", his now "wasted" money/training of the police helicopter, illegal road paving, ...ETC ETC....
Enough is enough...PLEASE!!!!!!!!!!!!!!!!!!!
The helocopter is ok to get
The helocopter is ok to get rid off and his security my friend comes with his job. blink blink
The words "credible and
The words "credible and sustainable" in this statement are very pertinent: a tax on just a particular segment of the working population is not credible and the major thing it would sustain is a decline in the wealth and prosperity of the Cayman Islands and Caymanians.
that's it independence all
that's it independence all the way from these lords... i meant for a little while at disney world robinson crusoe island (:))>
Independence= out of the
Independence= out of the frying pan and into the Dart
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