Mac’s first steps to recovery
(CNS): Following some 250 suggestions from more than a dozen organisations and the wider public, the premier announced a stimulus package on Thursday evening that commentators are likely to say falls short when it comes to kick-starting the local economy. He said the measures were preliminary moves that had the potential to benefit the economy in the short term. Announcing a possible reprieve on loan payments at some banks, a duty reduction on some unspecified goods by unspecified amounts and immigration changes, the premier said that apart from funding the clean-up campaign to give people temporary work, it should be the private sector that drove job creation not government.
Confirming a number of changes to immigration policy that would affect high net worth people and foreign investors, as well as lifting visa requirements for Chinese and Jamaicans, the premier offered no news on significant wider changes, in particular to the rollover policy. There was also no mention of the reduction in permit and trade and business licence fees for small businesses, which the premier had previously hinted at.
Bush said a package on attracting physical presence financial services would be announced next year. “In collaboration with key financial sector stakeholders, a promotional strategy to encourage physical presence in financial services operations will be unveiled in the first quarter of 2011,” the premier said in his address to the country.
“This strategy will, at the very least, bring our jurisdiction on par with our competitors in terms of international promotional and marketing efforts. The success of this promotional strategy will not only address what is known as the ‘substantial presence’ issue but it will also create new white-collar jobs by supporting top quality organisations to combine their talent with the talent present in the Cayman Islands.”
He confirmed the introduction of a special one to five day temporary permit for those business travellers visiting for legitimate business purposes. He further revealed that in an effort to become more customer friendly, procedures at the airport were being reviewed so those attending business meetings would be “greeted by a truly welcoming atmosphere”.
Announcing stimulus for tourism, he said government would develop and implement strategies to increase target market visitor arrivals, improve the tangible and intangible visitor experience, improve Spotts Dock and develop a private and public strategy for national beautification. He also stated that Cayman Airways and the Department of Tourism were now working in close alignment to make the best use of the national airline and to work with sports organisations to develop a sports tourism strategy.
Despite the recent setback over the George Town port, the premier pointed to the cruise berthing development as a high priority project.
The government was also moving ahead on facilitating the Dr Devi Shetty’s hospital project, he noted, which, along with the resumption of the school projects as well as a new project to renovate the primary schools, would create jobs.
“Under my government’s stewardship, the recommencement of the new high schools project will provide much needed additional stimulus to the struggling construction industry,” Bush said. “Of particular note is the Ministry of Education’s innovative approach, which will result in some 70 construction works packages being tendered this financial year. These packages are worth approximately $14 million dollars. This approach will result in a wide range of contractors, large and small, benefiting, not just a select few. This will be a welcome relief to the many hard working Caymanian families who rely on the construction industry for their livelihood.”
Bush went on to say that the announcement was an outline of the short-term measures selected by the government. “Some of them will require specific details to be approved by Cabinet. Others will need further discussion with the private sector to ensure the maximum benefit is realized,” he added. “Nevertheless, my government will pursue these short-term stimulus measures with the urgency that our economic and financial situation demands. It will take time to see the full results. But we must stay the course if our efforts are to bear good fruit. There will be bumps and obstacles in the way, but we must overcome them. Nothing good comes easy.”
The premier went on to say that he would be speaking to the nation again before Christmas and would have more details on the stimulus in the New Year.
Category: Headline News
The only stimulus Cayman needs is to get the government off its back.
No company, private or public, can function efficiently unless it is free to manage its business without government intervention.
Management must be free to hire whatever employees it needs, and it alone knows who they are. Paper degrees and diplomas count very little in this process.
What is most important is how the employee can help the employer, which includes knowledge of the business and aptitude for it, attitude, work ethic,dedication, and personal habits.
It should be clear to all that there is no room in this process for government pressure, second guessing, or overrides.
Remember that Government is far more dependent on business than business is dependent on government.
It seems that Government tends to forget that it is the economy that supports it, and that it could not exist without the taxes and fees it extracts from the economy..
It also tends to forget the economy can, and is, being destroyed by taxes and fees which are greater than it can afford.
If the private sector does not need a government to control it, thus meaning that the market has control of all aspects of our lives, wouldn’t that be a place you wouldn’t want to live? You as a citizen would not have any say over how the society you lived in was run or organized. Decisions would be solely based on what economic value they held. All aspects of our culture would be dictated by their subsequent ‘cost’. Should there be a cost on human life, human dignity, and the right to live in a society the way you personally see fit? Why does my value in terms of earning potential and my contribution to the GDP, need to determine the self worth of a person? Shouldn’t that be dictated on how they live their life and treat other people?
Governments exist because people living in common geographical areas wanted to provide a fair way to live in peace. The government should be a representation of the people and if it is not then it shall be removed by all means necessary. If the government does whatever the private sector businesses want, like hiring anyone in the world you want while citizens are left behind because it’s to ‘costly’ to train them, then the needs of the business trump that of the needs of the citizen.
We do not get to pick CEO’s, companies presidents, or boards of directors. Thus we should not allow them to make decision that effect the common citizen’s daily lives, without the check and balance of a citizen elected government. Government workdone in the humility of public service, serves the people it represents, and that trickles down to business and expands a stable, fair economy.
If you are for economic slavery and the indentured servitude of millions of people in the world, purely to the benefit of a small number of financiers, so that your sneakers don’t cost too much, then let the market control governments. I for one believe that the people of Cayman want, and deserve better. A government that represents the wishes of the people whether they like them personally or not.
McKeeva Bush is as transparent as a sheet of steel painted black. He is not worthy to lead this country and I sincerely hope that his political demise is around the corner. He is leading this country down a dangerous path where we lose our right to govern ourselves to some bunch of hacks in the United Nations. This man is wholly sold on Agenda 21 which is why he is calling for relaxations on immigration laws. He is singing from the NWO hymnbook and trying to pretend otherwise. A failure as a politician and more importantly, a failure as a Caymanian. The only Caymanians that support this man now, are the greedy ones who stand to make money from supporting him.
I am a Caymanian and I approve this message.
We waited 100 days on tenterhooks for that?? Is this some sorta joke?
Hey buddy, you are in the Cayman Islands now, it’s "tenderhooks".
Just a few words on the stimulus speech by the Premier.I was surprised that no mention was made of any possible reductions in air fares for incoming visitors as this has been one of the biggest hurdles in my opinion in regaining our stayover visitor numbers.Lets not fool ourselves with out stimulating this vital part of our tourism product we will never get on with returning to where we were before all this recession talk began.Is anything being done about this situation at all?I would like to hear from the Premier on this and also what plans (if any)he might have for this reduction in plane fares.Get the people here and they will spend money.We cannot rely strictly on the cruise shippers to right the GOD SHIP CAYMAN!!!!
Well, we are having a real RUN-Down on negative feelings….
now >>>WHO has any idea what to put into motion to turn the Cayman economy around….maybe start world wide so it may trickle down to Cayman??
It is easy to attack, lay down in front of heavy machinery and stop development that may not be good for Cayman….have a March….vote of NO confidence>>>>
and then “what”….who will you put in place with great new solid positive plans?….Do any of us have anybody in mind with plans for the future of Cayman?….Any idea how a world wide slow down that is now coming home to Cayman in full force, may be turned around so that all may see benefits?
Is it not a bit easier to just “see” if at least one Government suggested plan may be put into place within the Cayman Islands….and just “one” may work out positive after all….!!!
All we keep reading>>>Get rid of this Government!!….many are shouting>>> its all the leading party’s fault!
After all according to most in here, its all a lost cause…..so with no greater-better person on the Horizon…..
Keep laying in front of heavy machinery, or keep shouting so the world will hear you.
Where will that get YOU…(us)
Do you honestly think, in a world where many more suffer they want to hear how bad off the Cayman Islands are?
You are not giving any potential projects a chance…..because you (we) want it to be better “NOW”….like everybody else world wide….
no new Investor will just jump into Cayman because of who we are.
There is a huge world of potentials out there, and globalization is the “IN” word to do business….
staying protected as we love our islands to be, yes that WAS wonderful; if we keep that attitude now, we will be islands that time WILL forget….
It is a beautiful idea to keep us ( like we have Cayman Brac now….quiet, no crime, ) I love that kind of world, but there is NO survival to its citizens.
So while all are most unhappy who are writing above….
since you have no better ideas….just give the “potential plans” a chance…..or are all of you (us) moving tomorrow??
Our elected leadership direction is based on the concept that should, I as a leader or Premier of the country produce development and inward investment that trickles down into the economy, then the country prospers, but this also means that me myself and all my companies, my family, my partners, friends and supporters make money therefore I am doing a good job. Have the majority of the voters gotten to the point where this is an acceptable way to run a country. What happened to the good old days of the Executive Council which was leadership by five? Does the Premier represent the majority, I think not. IMHO the cycle needs to be broken for the long term good of all Caymanians. This is not a Government for the people this is a system so that politico’s can make money. Where is the leadership, direction, fiscal management, accountability, don’t see it fellow voters.
The Emperor has no clothes!
Even a child could see that.
What a waste of time. Throw the bums out.
This man has travelled all over the world for 19 months (everything 1st class @ the expense of the Cayman people) in the pretense of attracting investors to Cayman, and now one of his dream ways of getting Cayman back on track is attracting investors.
HELLO!
Am I missing something. He is now telling us that he wants to attract foreign investors to Cayman, but that is what he has been telling us he has been doing the last 19 months and we are still waiting to see foreign investors.
We are in some PERILOUS times people.
We needa serious no-confidence vote real quick but that wont happen as he has his cronies in the house all sewn up.
Would somebody please give McKeeva a compass, he is hopelessly lost.
Stimulus?!…What Stimulus? and for who? Sure not for the Caymanians.
What??? Vote of Non-Confidence? From the sounds of this address I have tremendous confidence this character…. disguised as Premier ….doesn’t have a clue what he’s doing, going to do, or what should be done.. Now, that’s confidence and we should all be confident. And just a little bit frightened.
HELP!!!!!
The reality is that our Premier takes us for a bunch of pushovers in is La LA islands. How can you other elected members of OUR Legislative Assembly stay quiet. He can afford to do this YOU can’t.What’s his worse scenerio NOT run for the next ELECTIONS! Then what for the rest of YOU who may have had good intentions in the beginning.Mr.Anglin looked completly stressed out on the news making up as he went.Do you ALL intend to move off island. PPM fighting over the next leader.Ezzard sitting on the fence. NO ONE want’s to make a commitment. How about then WE all decide to call in sick for the remaining days we have BY LAW and say no more of this NONSENSE. Or are we going to continue to be a bunch a PUSHOVERS. Pick a busy cruise ship day. Let the WORLD know that we are not HAPPY. Do you think we Might have his attention then. I mean EVERYBODY. We can’t continue like this, this is legalized dictatorship by ONE man. Food for your thoughts because if this keeps up many are going to have a HUNGRY Christmas.Never mind the Human Shield, try the mass of the population. We are already prisoners of the Politicks.
Mac crashes and burns, and takes a good part of the near-term Cayman economy with him.
And the schools – spending millions of dollars in the local economy does indeed stimulate spending in the short term as the wages flow and move into the stores and through local (hopefully local) businesses, but I didn’t catch WHERE THAT MONEY WAS COMING FROM…
If Mac’s pulling out the American Express card to pay for this, who’s going to pay the bill when American Express comes looking for its monthly payment and interest? Oh yes, it would be those people who receive the wages and spent them. Whoops – maybe you better save them for when the bill shows up.
What a shambles.
its not great, is it? but lets step back a minute, what can he do really without risking massive push back from most every sector of society here, local and expat? i’m not great fan of the current regime, but then again, we’re any of us blown away by the previous one?
the issues are bordering on impossible to fix….at the end of the day, we need volume to bring in the moolah….volume o cruise passengers, volume of patients for the Shetty thing, volume of Funds for the local FIn Services….volume of residents to buy gas/groceries/spend in restaurants/etc/etc/etc….volume of employers to offer volumes of jobs to volumes of workers (caymanian and expat)
its all coming down to volume….but we dont have it…the exact opposite is happening, we’re shrinking big time….at every level, in every industry….even the news about Funds hitting 10,000 is really irrelevant as this does not increase jobs, it just means the Lawyers have a few more things to do and dont need to work part-time every day ……
we got a problem….and unless real, tangible, non-corrupt long term planning happens now then we’re not coming back…..we need a longer runway at the aiport….we need 2 piers in GeorgeTown for Cruise Ships urgently….we need to welcome people by reducing restrictions on foreign workers, not impeding them…..we need to build a Hospitality College or university and have Dart/Ugland/Ryan/other mega-billionaires that are here put up a Fund that gives scholarships to Caymanians only to train in Hospitality and then we can properly consider ourselves acceptable to work in restaurants/hotels/resorts and let tourists meet a caymanian when they are here…..we need an MBA college….build it in Camana Bay….and team up with Harvard or Wharton, do the Cayman MBA, and have access to all the incredible talent that exists in our financial/legal services as lecturers, etc…we need to accept that we have to make some decisions that we dont like…such as the East End Quarry…..get over it, put a tax on the export of it…..lets make some money
we have so much potential….but we’re doing NOTHING…all we’re doing is complaining…..we need to introduce term limits on politicians and get new blood and ask our very wealthy 40/50 yr old Caymanians to step up and come into politics and save the next generation, because this one is already dead, but i want my children to have a chance
Your suggestions are good, lets hope some of them can be acted upon. It is always good to add suggestions to the problem and not just moan about it. Thanks
I agree to lift the rollover. Any let people start working towards status at a continuous 10 years here….this will filter out the transient ex-pat. Make owning property mandatory.(even a helper can save for a one bedroom condo within ten years) ….this will filter out the people who really are committed to Cayman. Your loyalty to a mortgage payment and house insurance shows your dedication.
However, right now, Sherry C Bodden has it correct in the newspapers….the Immigration Board should only hear applications where a Caymanian has applied for the same job an ex-pat holds and the strength of that application or renewal should be weighed……does the ex-pat OWN property or just renting? Does that ex-pat VOLUNTEER actively in the community? Does that ex-pat have a Caymanian training under them for the position. Is the ex-pat’s spouse also giving back to the community? Is the ex-pat’s spouse also holding a job that a Caymanian should be doing?
Cronyism for the big companies must stop and we need to get qualified Caymanians back to work.
Only the Immigration Board can solve our unemployment problem and WHY does the ERD not work with them directly? What a disconnect!!!
fao: local jounalists….
mckeeva has given you the ammunition….. now go do your job…
in any other country this buffoon would be cut to pieces by the local press….
yep just as expected…a re-hash of all his previous announcements during the last 18 months….. where nothing has got done!
all this gov has done is brought in a couple budgets which have been filled with increased fees and charges for everyone which have also damaged the local economy….
This is nothing but a road blocker to STOP THE PETITION SIGNING AND call by Mr. Ezzard Miller for a human shield.
The man has not said anything NEW!
Go ahead and sign the petition and fast! Do not be fooled.
When Big Mac says Run you better WALK
If he says Go East you better go WEST!
This is a government that keeps screwing the people. While he claims there will be jobs WHERE ARE THE JOBS NOW?
He said nothing about protecting positions for Caymanians, he did mention sharing offshore talent with our local talent that is what is supposed to be happening RIGHT NOW. Well Is It ? The answer is NO! It is not a part of the UDP agenda.
Big Mac said nothing about REGULATING BUSINESSES TO PROTECT CAYMANIAN JOBS AND KEEP THEM FROM DISCRIMINATING AGAINST CAYMANIANS. He does not even use the term discrimination against his people. Can he be trusted? The answer is NO!
People this is just a distraction from Mr. Ezzard Miller and Mr. Arden McLean’s Petition. Pay Big Mac No Mind. Its the same old same ole dictatorship rant.
You need to start using a more rigid style of opposition. When developers force their way into ourland to ruin it WE TAKE THEM TO COURT with the signed petition by the people!
Case labeled THE PEOPLE -V-S DEVELOPER !
End of Story.
GO AHEAD AND SIGN THE PETITION AND SIGN IT NOW EVERYONE OF YOU LIVING IN THE CAYMAN ISLANDS! TAKE CAYMAN BACK!
"This is nothing but a road blocker to STOP THE PETITION SIGNING AND call by Mr. Ezzard Miller for a human shield."
You are absolutely right. Every time, the people get upset with him and Julie to the point of petitions and marches, he throws them a bone (road clean-up, etc). He reminds me of my ex who wouldn’t help pay bills for like 6 months and then of course I was ready to kick him out so he gave me a little not what was owed but just enough to make me believe things would get better.
He treating us like dogs taking scraps from the table. When will we put an end to this?
“To provide some temporary relief to the cost of living, we have engaged in discussion with several banks and commercial lenders to offer a voluntary moratorium on principal payments (in other words “interest-only” payments) starting in January 2011 for the next three to six months for loans that are in good standing. A commitment has been received from Cayman National Bank to support this initiative.
I do realise that my economic model is not on par with the McKeevian model, but if CNB do NOT collect principal payments then they will not have funds to lend to other potential borrowers, and that will cause STAGNATION rather than stimulate the economy.
Did he list this first because it was his best idea, or was he hoping that it would be forgotten by the time he rambled his way through the other vague suggestions?
‘for loans which are in good standing’….
so people who have been able to pay their mrotgage comfortably are being offered a mortgage holiday????
why would they do that? these people are obviously not stupid (unlike the politicians)
reminds me of the pension holiday that 99% of people were smart enough not to take!
The time for a vote of no confidence is now!!! We need a real leader not an uneducated self-serving individual. We need a true voice of the people (Thinks *If only his electoral district would stop electing him*) .. Caymanians and other eligible voters we need Term limits in place , 2 consecutive terms and 3 terms maximum. Time to do away with the old rotation of Mac’s party or Kurt’s.
A national "One Man One Vote" would help settle a lot of issues in our local politics once and for all. This is what every elected official fear if they are honest with themselves, because it would essentially bring them ALL to the table tol work together for the betterment of the CI.
By allowing the people to vote for all electoral districts would hold ALL to account, by leaving it up to ALL people there can be no doubt of who the people really want elected!
Don’t leave the balance o power for Cayman only WB and GT, local district voting needs to stop now, imagine the Cayman Islands smaller than a county in most countries and we cant vote for ALL of our leaders on one ballot sheet.
How sad we can’t vote these people out once and for all.
A big nothing burger, as expected. If Cayman’seconomy recovers it won’t be thanks to these clowns
“Confirming a number of changes to immigration policy that would affect HIGH NET WORTH people and foreign investors. . .” ???
What about the “average” Caymanian business owners who have been the backbone of the Cayman economy for decades? Do they not need a stimulus package to keep their doors open? Mr. Bush, pay some mind to the LOCAL economy.
Cayman’s poor financial position is not going to recover on the back of one or two big investors. Look, we’ve had the Camana Bay and the Ritz Carlton projects come to fruition over the last few years yet the country is still in debt. Think back to all the rhetoric about how these projects would “save” Cayman (and, as an aside, also look now at the %age of Caymanians actually employed within these projects). A Dr. Shetty, nor any other single investor, is going to save the Cayman economy and anyone who believes otherwise is living in cloud cuckoo land.
The UDP must stop looking for a quick “couple of big investors” fix for Cayman’s economic woes and stimulate what’s already here. The quick fix is not going to happen.
what about the crime???? This in itself will ruin Cayman
Where are all those Chinese investors ? He seems to be paving the way for them !
The private sector will drive the economic recovery if the Premier can can begin to understand that it’s the government’s responsibility to set right political and economical framework for the private sector to thrive. Instead of stimulating the economy to raise revenue, all the UDP have done so far is to raise “taxes” to try to plug Cayman’s budget deficit, which has placed a huge burden on local businesses.
The Premier says (with my resposes in parentheses): “Nevertheless, my Government will pursue these short-term stimulus measures with the urgency that our economic and financial situation demands. It will take time to see the full results. (Short term measures that will take time to see the results are medium- to long-term meausures!). But we must stay the course if our efforts are to bear good fruit If the course is sound and true). There will be bumps and obstacles in the way ( Yes, everyone who opposes his policies), but we must overcome them (No comment). Nothing good comes easy” (Yes it does, if you know what your doing).
Hopefully West Bay and the rest of the voters are realizing that we have elected political members that use their elected positions for personal gain. ( read Roy Bodden’s book). You are correct, the private sector will and can fight through the recession. Perhaps the positive from this horrible recession is voters will finally see that we need a different kind of politician.
What a load of Hogwash!
Time longa dan rope – we will see the truth!
Rollover is the rope the Immigration uses to hang anyone, any business, they do not like. How can Mac be trying to attract financial businesses when Immigration is anti-business? I can cite examples of persons in the financial arena and their businesses suffering at the hands of Immigration which is acting illegally. How can we attract money to build our country when we have "human shields" against development? Human shields that don’t stand against, crime, unemployment, or the elderly. The truth is, the average voter believes he does NOT want to move forward. He has had enough of "progress", but ironically still wants his airconditioning and BMW. Cayman has seen its best days. History will show the rollover was the death of Cayman.
Is that it? Is that what we have been waiting 90 days for?
1) Duty reduction – so having put almost all duty up, some duty will go down and we are meant to be happy. Sounds like the chocolate ration in 1984.
2) Banks not taking loan repayments? Won’t that harm our local banks balance sheets? Given the real mess they would be in if they put the actual value of their property loan portfolios on their books, why are we risking everyone’s savings even more?
3) Immigration tinkering – I am not one of the anti-Jam brigade, but I can’t for the life of me see why waiving visas for Jamaicans will improve the economy in any way.
4) Attracting physical presence financial services – same old, same old woolly words. The big players really won’t want to come here whatever you offer them. The only time the players moved was the insurers to Bermuda, and that was most likely a one off that is slowly reversing out.
"3) Immigration tinkering – I am not one of the anti-Jam brigade, but I can’t for the life of me see why waiving visas for Jamaicans will improve the economy in any way."
Maybe you can ask Cayman Airways that now flies twice weekly to JA down from daily flights! And that’s just 1 of many examples..
There’s a jamaican voting block here. It shows he’s pro jamaican.
Actually it only applies to Jamaican’s with dual citizenship. So although not good enough for Cayman, these Jamaicans are good enough for first world, civilized countries. Imagine that.
I think he said US visas not dual citiziens. After all, Americans don’t need visas to visit the Cayman Islands.
Not the grand plan I expected… Id give the Govt a D based on that speech.
Give ’em a "FF" rating
giving them a D is giving them a whole lot. stop it!
Way to push the pause button on the economy during the busiest month of the year Mac. Now everyone is in "wait and see" mode, that house I was going to close on, hmmm, lemme wait and see if stamp duty and commissions are going to go down. Those furnitures I was going to import for it, hmmm lemme wait and see if stamp duty on imports are going to go down.
You had almost 3 months for Pete’s sake, perhaps if you had stayed on the Island long enough instead of racking up $400,000 in travelling, you would have figured out the details of this plan rather than tell us you’re thinking about the measures you jackwagon.
Why were you going to import your furniture when there are large amounts of good quality furniture stores on island who offer every day competitive prices and employ many Caymanians who would otherwise be unemployed?
I am so sick of people talking out of both sides of their mouth and looking for handouts from government. Spend your money locally and give the local businesses a chance to survive. That is what keeps our economy going. Going to Miami with the added cost of spending money on airfare, hotel, car rental,restaurants and of course your furniture can ‘t be any less than buying it here. Don’t forget that when you bring the furniture back you have to pay the freight costs, port authority fees and duty.
Caymanians and residents, I challenge all of you this year to stay home and "Shop Cayman. " Give local business and the economy a boost and feel good that you are supporting this beloved country that has given us so much. There is no better stimulus plan than investing in our own country. I am sure the USA appreciates our business and that we come in droves to support their local businesses this time of year but what we really need to be doing is trying to stimulate the economy of the place where we all live and work.
i’ll ‘shop cayman’ when somebody can explain why local shops have 100% mark-up on miami prices????….
till then i look forward to my next miami trip!
Couple things there bud:
1. There was a funny little invention a few years ago, it’s called the Internet i.e. I can sit in my living room order my stuff and have it sent here
2. Where do you think the local vendors get their furniture? from the furniture fairy in the back room?
3. Times are hard and money is tight, if I have the option to use technology and common sense to buy the things I need at 30% – 50% less than what some of these Pirates are asking locally, I’m sorry to have to break it to ya, but I’m going to get online and shop overseas.
4. Who do you think contribute the higher duty percentage to the ailing Government, me who is going to pay retail, or the vendor who is getting a massive first cost discount?
Try again, your argument is flawed.
I support local businesses that employ Caymanians. Anyway have some attractive sales just like the US and you may be surprised at the outcome
The local stores have limited choices and the mark ups are ridiculous – we can check the prices online people.
I am always going to pick the best option in terms of choice and price and for major purchases that is in the US not Cayman. I am not under any social obligation to keep locals in jobs in overpriced stores.
Hot air, as usual.
After months of buildup, promises and hopes, the leader throws THIS out as a solution for the islands?????
For those who want to avoid reading the 9 pages of babble and pseudo-solutions, I will summerise:
‘We are in trouble and I promised to help and to do so, I intend to promote a series of “solutions” I have come up with after reading other people’s suggestions’
1, Banks have been asked to offer “interest only payments” for 3-6 months. That’s right, you can extend the length of your loan, effectively pay more over term, and in 3-6 months, you will be in a far better place having saved the principle portion of your payments. (This is a complicated area, but in effect, the ones who save the most are the ones in the final years of their mortgage – in the early years, most of your payment is interest anyway – up 75%!!! So if you pay $2000 a month, you might save $500 – for a whole 3-6 months.) NOTE: Only one bank has agreed to date, and the Premiere never asked for an INTEREST REDUCTION that would have been far more helpful….
2, Duty will be reduced on a TEMPORARY basis on a SELECT group of items. Since most businesses try and spread the increases in duty from a couple of years ago over their entire product line, I suspect this will amount to 10cents savings on a loaf of bread… In other words, unless he is proposing a 100% reduction on a significant cross section of items, don’t expect this to amount to much more than what you could earn in pennies scouring the parking lots of the local supermarkets on your way out for dropped coins… I usually get 3-4c per visit this way!!!!!
3, Through the PRIDE initiative, we will offer temporary jobs to a handful of people to clean up the sides of the roads instead of educating the public about littering, buying and placing a few public trash cans about, and prosecuting those caught littering – thus saving absolutely nothing since we still pay our local refuse workers all year around to collect your trash and pick up waste anyway….
4, We need to attract more business and make cayman more business friendly. We will do this without modifying or abandoning the failed roll-over policy that has earned us a world-wide noteriety of a place where you can come and work and then we will kick you off when there is a threat you could possibly become a welcome contributing long-term member of our community. The government will continue to ignore promises to address corrections to this and has decided to forget about the tantilising carrot we threw out a few months ago to shorten roll-over and give current workers some hope for their future.
5, We are going after attracting more wealthy retirees by giving them an easier in, and to make their life more comfortable, they will be allowed to employ trusted assistants, gardeners and household nannies and helpers – all of whom we will roll-over on a regular basis to help them feel some level of uncertainty in their lives all the same!
6, No more Visas for Jamaicans and Chinese. Jamaicans, absolutely, thumbs up – this was a mistake in the first place. Chinese – would SOMEONE please walk me through the thought process on why only the Chinese were singled out amoungst countries outside the immediate Caribbean basin?????????
7, We will work to come up with new attractive business areas for development and encouragefurther financial industry investment – but ignore the fact that companies NEED to know they will NOT face unfriendly and disruptive poicies such as rollover which we have agreed needs to be left in place and its implications ignored…
8, “Government, including myself, has had to travel extensively to promote and convince the international community that these islands are open for business.” This comment alone indicates the Premiere’s intention to continue to spend more time off island than on, trying to encourage investments (whilst not ignoring the Sistene Chapel, Great Wall and other wonders of the world, since we are there anyway) all the time seemingly forgetting the crime that is beginning to spiral out of control at home…
9, Government will continue to court the likes of Shetty and encourage the likes of Dart to continue to invest – but only on our terms, and when such developer sets a reasonable return on their expectation for a project, we will go offshore and look for another sucker. Hopefully we won’t find ourselves in another Matrix debacle. My question here – when an already established developer wants to further assist government with a development like the dock, and as is only reasonable, expects a return, why would government not move hell and high water to make it work? Instead, by nixing the port deal,do they not realise they have just p!$$ed in the bowl of cornflakes Dart has in front of them, and possibly tarnished their zeal to assist government in other porjects – or worse, the community as a whole in the form of parks and public places and assistance after natural disasters? How about ANY bidder on a major project be asked to include a Community Investment Aspect, such as the development of local parks, like Dart has done? The companies trully in it to help the islands won’t bat an eyelid at writing in a $100,000 allowance for this – those looking to grab as much money and run, certainly won’t! And if they do, look for the $100,000 line item in the invoice to cover it. NURTURE those who have already invested in the community – for it is they that have shown true community commitment. (For the cynics, don’t think I am, for one second, suggesting the Dart Group is not here to make money – every legit business has to – but they are doing it by also making the island a better place all over.)
The last 2-3 pags of the presentation is a lot of hot air about continuing to support employment, education and development.
I am drawn to one quote I would love to have further explanation on:
“I would specifically point to the ongoing progress that is being made in relation to the George Town Cruise Port Development project, the Sewerage System, Road Works and the Waste to Energy Project.”
It is my understanding the Port Development has gone back to square one with a new developer, the sewerage proposal is mired in controversy internally and on the marl road, and Waste to Energy is such a pie-in-the-sky dream for our municipal waste problems and would only really be feasible going forward after developing a completely new waste handling procedure, leaving the massive ZIT on the landscape of the face of Cayman untouched and festering.
As you can see Cayman, it took me 90 days and I have all our problems solved. Deep breath, we might be underwater for a few seconds here as the good ship Cayman sinks just a little further….
You missed out a lilttle something – you are not allowed to make comments like this, negativity on blogs::))
Better get that casino up and running then, don’t the Chinese love to gamble?